ISLAMABAD: As many as 350 non-taxpayers have got their untaxed working capital of over Rs 2.09 billion documented till April 24 under Voluntary Tax Compliance Scheme (VTCS) 2016.
So far 8,045 non-filers filed 1 per cent taxes of Rs 570 million during the corresponding period under the amnesty scheme, announced by the federal government for business community, and got untaxed working capital of Rs 75.090 billion documented.
Till March 31, as many as 7,695 traders got advantage of the tax amnesty scheme and filed Rs 731 million returns, documenting Rs 73.01 billion worth of working capital.
Sources said that these filers will enjoy ‘benefits’, announced by Federal Board of Revenue, like other taxpayers. The Voluntary Tax Compliance Scheme is valid till April 30, afterward the government will charge 0.5 or 0.6 per cent withholding tax on all banking transactions.
However, Federal Finance Minister Ishaq Dar, in consultation with FBR, can extend deadline of the tax amnesty scheme after May 1.
