PTI Government Introduces Assets Declaration Scheme & Tax Amnesty Scheme 2019 in Pakistan-Read Details in Urdu & English Languages
Tax amnesty scheme is introduced to increase the tax base so that more revenue may be collected in a fiscal year. It also helps in the documentation process of any economy. Federal government of Pakistan Tehrik e Insaf has launched tax amnesty scheme 2019. Government claims that its an assists declaration scheme by nature. Public office holders and their Dependants are not eligible to take benefit from this scheme. This scheme has been introduced through a presidential ordinance, soon its approval will be taken from Parliament too.
Names of the beneficiaries will be kept secret. Local Pakistanis will have to pay 4% tax whereas 6% tax will be taken from overseas Pakistani citizens on cash declaration. Beneficiaries will have to become tax filer. Date of tax amnesty scheme will not be extended. Beneficiaries will have to keep their declared money in the bank accounts. You can get benefit from this scheme without any surcharge fine till 30th June, 2019. You may also show your hidden properties. Real state price will be considered 150% more than the FBR rates so that it may become near to market rates. 1.5 tax will be received on it.
FBR officers will have not right to ask the beneficiaries of this tax amnesty scheme Pakistan 2019 about the source of their wealth which they will declare now. Different stages of this tax amnesty scheme 2019 of Pakistan will continue till 30th June 2020.
Remember that PTI government has declared that it is the last tax amnesty scheme in Pakistan, so do not miss this golden chance and declare your hidden assets as early as possible. Now kindly read more details in the newspaper cuttings given on this page. Try to visit studysolutions.pk and its facebook page daily for reading latest news.
Tax Amnesty Scheme 2019 in Pakistan, Form Download (Details in Urdu & English)