ISLAMABAD: As many as 969 non-taxpayers have got their untaxed working capital of about Rs 10 billion documented in eight days till May 2 under Voluntary Tax Compliance Scheme (VTCS) 2016.
So far, 9014 people have availed the tax amnesty scheme, announced by the federal government for the traders and they have legalised their above Rs 85 billion undocumented money after paying just 1 per cent (Rs 850 million) taxes.
About 350 non-taxpayers got their untaxed working capital of over Rs 2.09 billion documented till April 24 under the scheme. During the period, 8,045 non-filers filed 1 per cent taxes of Rs 570 million and got their 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 be included in the list of active taxpayers within a week and will enjoy ‘benefits’, announced by Federal Board of Revenue, like other taxpayers.
The deadline for the Voluntary Tax Compliance Scheme has been extended till May 31, afterward the government will charge 0.5 or 0.6 per cent withholding tax on all banking transactions.
