Tag: Tax Amnesty

Rs. 42 billion tax received in Asset Declaration Scheme

Around 90,000 people have gained advantage from the Asset Declaration Scheme, sources from FBR have claimed. Total volume of tax revenue after the extended deadline for amnesty scheme could reach Rs. 70 billion, as another 1,00,000 people are expected to declare their assets. For the first time number of tax filers have passed the two million mark in the country.

Deadline for Asset Declaration Scheme extended by 3 days

The deadline for Asset Declaration Scheme has been extended till the end of banking hours on July 3, keeping in the view the overwhelming response to the scheme. The announcement was made by Prime Minister’s Adviser on Finance Dr Hafeez Sheikh in a press conference in Islamabad, who also appealed to all citizens to take full advantage of the scheme.

Foreign assets worth Rs. 1 trillion to be declared in current amnesty

The current tax amnesty, due to end 30th June, is expected to have Rs. 1 trillion declared with assets in United Arab Emirates (UAE) taking the lead. According to reports, Rs. 346 billion or nearly one third of total, has come from UAE, followed by Switzerland (Rs114.8 billion), UK (Rs89.7 billion), Singapore (Rs87.3 billion) and British Virgin Islands (Rs48.9 billion).