Federal Government of Pakistan Announces Tax Amnesty Scheme 2019 & Assets Declaration Scheme 2019
Assets declaration schemes and tax amnesty schemes are generally launched in under developed countries to collect the data of non filers. Pakistan has also launched lot of such schemes in past. Now Federal finance minister has also launched an new tax amnesty scheme 2019 in Pakistan. PTI supporters believe that it is an assets declaration scheme due to its unique features. Today we shall share salient features of this tax amnesty scheme in Urdu language. You will also be able to download its online form from this page.
This tax amnesty scheme Pakistan is for all citizen of Pakistan except public office holders and their close relatives. You can get benefit from this assets declaration scheme till 30th June, 2019. It is expected that it will widen the tax base in the country and we shall be able to collect lot more revenue in upcoming years for boosting our economy. It will also help the FBR in the documentation of economy. President of Pakistan has issued an ordinance for launching this tax amnesty scheme 2019. Within couple of months parliament will also pass a bill in this regard.
Those who will not get benefit from this opportunity will be given the punishment of 7 years imprisonment and their property will also be confiscated. Government has got information from 26 countries and 1.5 lakh cases are in investigation process, so hurry up and declare your assets immediately without wasting any time. No tax amnesty scheme will be launched in future so it is the last chance for you. Your names will not be disclosed at all. No officer of tax department will have right to investigate you about the source of declared money or property. Strict punishment has been proposed for such FBR officers.
Just four percent tax will be taken from Pakistani citizens living within the country. 6% tax will be charged from overseas Pakistanis on cash declaration. You will also have to become an income tax filer in future. Schedule is final as its dates will not be extended at all. You will have to keep your declared wealth in the bank account. You may also declare your immovable property. 1.5 percent tax will be deducted on the revised FBR rates of property for this assets declaration scheme 2019. Revised FBR rates are 150% more than actual current FBR rates. Last stage of this tax amnesty scheme 2019 end on 30-06-2020, but after 30-06-2019 surcharge will be received.
Tax Amnesty Scheme Pakistan 2019, Get Form of Assets Declaration Scheme & Urdu Guide
