ISLAMABAD: Prime Minister Imran Khan in an address to the nation on Friday urged citizens to declare their assets under the government’s tax amnesty scheme before the June 30 deadline.
“We are stuck in a debt trap,” he told viewers. “Why are we here? Because of corruption and theft of taxes. To end tax theft, I need your help,” he said. “I have initiated this scheme [under which] you can declare your assets until June 30.”
It is not the first time the prime minister has asked citizens to take advantage of the scheme, which is set to expire in nine days.
On May 14, the PTI-led government had announced its first tax amnesty scheme for whitening of undisclosed expenditures, sales and assets, including foreign assets, at nominal tax rates.
The scheme had come into effect through a presidential ordinance, which offered a period of 45 days to people for declaration of their undeclared assets, expenditures, and sales along with payment of taxes until June 30 this year.
The scheme has five main pillars — scope, default surcharge, exclusions, tax rates and conditions. It can be availed by all companies, associations of persons and individuals only to whiten their assets, expenditures and sales not declared until June 30, 2018. There is no provision for whitening undeclared incomes, either domestic and foreign.
