LAHORE: Maximum people should avail current Tax Amnesty Scheme 2018 to legalize their national and overseas assets.
This was stated by the Commissioner Inland Revenue (CIR) Ayesha Imran Butt while talking with Customs Today.
She said there is golden opportunity to the Pakistani peoples to legalize their hidden assets. The scheme like Tax Amnesty 2018 is unique because every tax amnesty scheme introduced by the governments of Pakistan collected 10 to 12 percent tax but scheme that introduced in April 2018 claims to file only five percent taxes to legalize assets in the country and outside county.
Ayesha is also a focal person of the Federal Board of Revenue (FBR) in Lahore. She added FBR is disseminating public messages, advertisements to aware the general public. The department also established help desk in tax offices to facilitate the citizens for legal cover of their hidden assets within country and abroad.
During the interview, she told Regional Tax Office has arranged the sessions with Lahore Chamber of Commerce and Industry (LCCI), Lahore Tax Bar Association (LTBA), chartered accountants and all major markets of Lahore city like Shah Alam Market and Azam Cloth Market to aware and motivate people about the scheme.
Talking about the national interest, she said that if people avail the tax amnesty scheme 2018 the assets holders will avail the benefits of concessional scheme, job opportunities will emerge and the country will progress so this is a good step for betterment of our country.
“In case of foreign assets, the people having properties outside will have to pay only three percent and people having cash in the shape of foreign remittances will have to pay two percent,” she said.
Furthermore, she said a person having assets in shape of motor vehicles, property, cash, bank balance, capital and stock will pay five percent tax on each.
Ayesha told that if the audit of any taxpayer is under progress, he can close his case after payment of five percent tax.
Talking to Customs Today she added that Pakistan has signed the agreement of 128 countries organization “Organization for Economic Cooperation and Development (OECD)”.
She stressed that Pakistan is receiving positive response from non-filers. Besides, all facilities and awareness if any person will hide his/her assets within country or outside country, he/she will have to face consequences.
The government of Pakistan can get information about any person under OECD and will take action against that person. The action may be confiscation of hidden assets. So this is a golden chance to legalize assets. The offices of FBR are open and officers are available to facilitate and guide each and every person, she concluded.
