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World / Asia

Tax amnesty scheme finalised

Published: 06 Jan 2017 - 09:00 pm | Last Updated: 01 Nov 2021 - 04:06 am

Agencies

Pakistani government led by Prime Minister Nawaz Sharif is likely to announce an across-the-board tax amnesty scheme shortly.
As per the draft being finalised by the federal government, all undeclared local and foreign assets of Pakistanis including movable/immovable properties, motor vehicles, machinery, cash in hand or in banks or in any financial institutions, or offshore companies, etc, will be covered by this scheme.
Under this proposed scheme, those who even once got issued a CNIC or Pakistani passport in his/her name will be named as Pakistani. All Pakistanis may be benefited from this scheme within six months only.
They will be liable to declare their black wealth in any kind. Those who will first-time declare their hidden assets within