ISLAMABAD: Chairperson Federal Board of Revenue (FBR) Rukhsana Yasmeen has said that the last date for declaring hidden assets under the tax amnesty scheme was July 31 and there is no possibility of any further extension in a brief statement issued by the board.
According to FBR statement the tax amnesty scheme will not be extended beyond midnight on Tuesday 31 July, and it is estimated that people have whitened Rs2.1 trillion worth of hidden assets.
It is important to highlight here that more than 64,000 individuals have so far availed these schemes, paying Rs107 billion in taxes on the value of assets that the people declared under offshore and domestic amnesty schemes. The board urged people to take maximum benefit of the window of opportunity before the final date. Approximately, Rs. 25 billion is expected to be deposited this month, bringing total tax contributions to Rs. 122 billion.
It is important to mention here that PTI is against such tax amnesty schemes and has been opposing it since the previous PML-N government launched it in April this year. And there is no change in PTI’s stance till now.
