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Govt considers introducing new Tax Amnesty Scheme

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ISLAMABAD – The government on Monday was considering to introduce another Amnesty Scheme.

The Federal Board of Revenue (FBR) has started work on new amnesty scheme in which the tax payment percentage is likely to be made easy.The scheme would also give a chance to those who had not benefitted from the amnesty scheme launched by the previous government.Sources said that Rs125 billion had been collected during the amnesty scheme launched by the previous government.Overseas Pakistanis would also be able to advantage of the new scheme,” sources added.

Earlier, as many as $64 million had been remitted to Pakistan under the recently concluded tax amnesty scheme. A total of $32 million had been repatriated which, had been converted into rupees. Similarly $24 million had been repatriated and converted in bonds and $8 million taxes have been declared on foreign assets.Overall, 82,443 declarations had been filed in the fourth amnesty scheme of Pakistan Muslim League-Nawaz (PML-N) government in which around $1.9 trillion had been declared in foreign and Rs1.47 trillion in domestic assets.In addition to this, the declarants had paid taxes of around Rs123 billion out of which around Rs46 billion ($375.5 million) had been collected on foreign and Rs77 billion on domestic assets

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