The Federal Board of Revenue, Govt. of Pakistan collects taxes
on immovable properties under Income Taxes Ordinance, 2001 section 236C and
236K. The FBR exemption to Overseas Pakistani to purchase of properties. The
FBR issues notification to all MTO, LTOS, CTOs, RTOS vide F. No.
9(16)S(IR-Operations)/2024/2249. The said letter calibrates hole the process to
deposit tax. The main content of this
letter is as under. Creation of Withholding Taxes Challan u/s 236C & 236K
of Income Tax Ordinance, 2001 for Holder of Pakistan Origin Card (POC) or
National ID Card for Overseas Pakistani (NICOP)
Through Finance Act, 2022 the Federal Government introduced
Clause 111AC under the heading Exemption from Specific Provisions of Second
Schedule Part IV of the Income Tax Ordinance, 2001, which exempts non-resident
individual holding Pakistan Origin Card (POC) or National ID Card for Overseas
Pakistanis (NICOP) from high rates of taxes u/s 236C and 236K even if they are
not appearing in the Active Taxpayers List (ATL).
02. In this context, a change is being incorporated in the
IRIS System for any non-resident taxpayer who wishes to avail the exemption
under clause 111AC, while creating the CPR, he will be asked to upload his
Pakistan Origin Card/NICOP Card, and after doing so a provisional PSID will be
generated, which will be forwarded to the login of the concerned CCIR. Then,
CCIR will be granted access to mark the case to the concerned CIR, who would be
required to verify the veracity of the status of non-resident. Once CIR is
satisfied, he may allow the taxpayer to avail the exemption, and the non-
resident/taxpayer will be intimated through SMS/E-mail about the approval,
after which he can avail the exemption.
