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PTI’s Asad Umar calls tax amnesty scheme a joke

ISLAMABAD: PTI MNA Asad Umar has slammed the tax amnesty scheme announced by Prime Minister Shahid Khaqan Abbasi to whiten undeclared local and foreign assets and money. According to the Foreign Assets Declaration and Repatriation Ordinance issued by the government, dollar account holders in Pakistan who have purchased dollars through undeclared money can also regularize...

SAMAA | - Posted: Apr 5, 2018 | Last Updated: 4 years ago
SAMAA |
Posted: Apr 5, 2018 | Last Updated: 4 years ago

ISLAMABAD: PTI MNA Asad Umar has slammed the tax amnesty scheme announced by Prime Minister Shahid Khaqan Abbasi to whiten undeclared local and foreign assets and money.

According to the Foreign Assets Declaration and Repatriation Ordinance issued by the government, dollar account holders in Pakistan who have purchased dollars through undeclared money can also regularize on two-percent payment and declare foreign fixed assets on 3 percent payment.

Foreign Liquid assets including cash/securities/bonds etc. held abroad and in local dollar accounts may be declared at 5% payment, it said.

Similarly, all undeclared incomes earned before June 30, 2017 on all local assets (gold, bonds, property etc) can be regularized on a payment of 5 percent penalty.

“It is a joke with the nation,” MNA Asad Umar said while speaking on Awaz show.

“Six such schemes have been announced by the PML-N government in the last for years,” said the MNA. “Those who plunder the nation’s wealth are being given the relief. The only objective is to whiten the stolen money,” he said.

Mr Umar said that tax policies were being formed by the people whose relatives had made money through corruption.

Speaking on the show, Senator Mushahidullah Khan defended the government’s move, saying this was the only option to bring more people under tax net.

“We cannot collect taxes by using stick only. Relief has to be given to widen the tax net,” he said, adding that Nawaz Sharif’s ouster had led to economic meltdown in the country.

 

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