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Explainer: Pakistan’s tax amnesty scheme

Abdul Moiz Jaferii tells us how it works

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The FBR is going after tax evaders with assets abroad

If you have assets abroad that you haven’t declared and didn’t avail the FBR’s tax amnesty scheme then you’re in trouble. The FBR is going to take action against people with undeclared assets abroad and tax evaders within Pakistan. The FBR had introduced the tax amnesty scheme to widen the tax net. As part of…

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65,000 people declare assets, FBR collects Rs110b in taxes

The PML-N-led government announced the tax amnesty scheme earlier this year

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You have one more month to declare foreign assets without any penalties

The president has extended the tax amnesty scheme for another month, so Pakistanis now have until July 31 to declare foreign assets without any penalties. The move is an opportunity to increase the tax received by the Federal Board of Revenue (FBR). President Mamnoon Hussain extended the scheme on the request of the interim finance…

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Tax amnesty scheme to prevent money laundering: President

ISLAMABAD: President Mamnoon Hussain said the recent tax amnesty scheme would help prevent money laundering and bring back foreign assets in the best interest of the country. Talking to media persons during a visit to Directorate General of Immigration and Passports (DGIP), the president said similar amnesty schemes had been successful in Malaysia and Indonesia….

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PTI submits bill against tax scheme in Parliament

ISLAMABAD: Pakistan Tehreek-e-Insaf submitted a bill in Parliament against the federal government’s tax amnesty scheme. The party stated that the scheme was introduced to protect money-launderers and thieves. PTI accused the government of attacking democracy by introducing the bill. Prime Minister Shahid Khaqan Abbasi unveiled five-point radical reforms aimed at bringing more people in to…

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Imran Khan criticizes govt’s tax amnesty scheme

HYDERABAD: Imran Khan has said that an investigation will be held against those who sought tax amnesty. The Pakistan Tehreek-e-Insaf chairman said that his party rejects the federal government’s tax amnesty scheme. “First they steal money then introduce tax amnesty schemes,” Khan added. The PTI chairman stated that the stolen money of the masses is…

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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…

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PM again rules out prospects of early elections in country

ISLAMABAD: Prime Minister Shahid Khaqan Abbasi has once again ruled out the prospects of early elections in the country and has advised his political adversaries to wait for the upcoming polls. In an interview with a private TV Channel, he said Pakistan Muslim League-Nawaz (PML-N) has delivered in the last four and a half years….

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Government’s New Year gift for tax evaders

Government has announced an amnesty scheme for tax evaders. The scheme was announced in a bid to bring non-filers into tax net, drawing strong criticism from opposition parties. The scheme would open a door for tax payers to turn their black money into white by paying only one percent tax. Watch this report.

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Imran Khan rejects govt tax amnesty scheme

ISLAMABAD: Pakistan Tehreek-e-Insaf and the Pakistan People’s Party have expressed reservations over the new tax amnesty scheme announced by the government on Friday. Speaking to media, PTI chairman Imran Khan said the tax amnesty scheme was an attempt to protect “thieves”.  In a bid to bring non-filers into tax net, Prime Minister Nawaz Sharif announced…

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