LHC hears petitions against tax on overseas properties

LAHORE: The Lahore High Court on Wednesday heard petitions against tax on overseas properties of Moonis Elahi, ARY News reported.

The court directed the lawyers to present their arguments over the money laundering law.

The counsel of the FBR could appear before the court owing to his busy schedule.

“If the government could not question overseas Pakistani citizens over keeping the money abroad,” the bench questioned. “The government was not authorized to question its citizens about depositing money in overseas,” the petitioner’s counsel argued. “The government could only ask this to the citizens residing in the province,” lawyers said.

“Pakistani laws have no jurisdiction over the assets, properties of overseas Pakistani citizens,” counsels further argued. “Don’t argue that the court could not intervene in the matter,” bench observed. “The court could summon the record about how the Pakistani citizens staying in overseas, made their properties,” bench remarked.

“Seemingly, federal government could question the overseas Pakistanis about their assets,” the court further said.

“The federal government could not recover tax over these properties,” petitioner’s lawyer said. “The government could only inquire about the income,” he added.

The lawyer pleaded for the court order to submit tax return on the e-portal without any fine.

The court adjourned further hearing of the case till Thursday (tomorrow).