Tax amnesty scheme can be availed till June 30: Hafeez Shaikh
ISLAMABAD (92 News) – Adviser to Prime Minister on Finance Dr Abdul Hafeez Shaikh has said that the tax amnesty scheme can be availed till June 30.
Addressing a press conference on Tuesday, he said that local and foreign hidden assets can be disclosed after paying four percent interest. “An interest of six percent will have to be paid for disclosing amounts abroad,” he announced.
Hafeez Shaikh said that public office holders and their families will not be able to benefit the scheme. “Under the scheme, if a person brings his undeclared wealth to Pakistan from abroad, he will have to pay four percent fee on that amount. If he decides to put this money abroad, the penalty imposed will be six percent.”
He said that effort had been made to implement the scheme seamlessly and it has been kept realistic.
Replying to a question, Hafeez Shaikh said that Rs 16 billion would be earmarked in the next budget to subsidize the consumers using electricity up to 300 units a month.
He said the budget of BISP will be increased to Rs 180 billion to help the poor.
Adviser to the PM on Finance said that those who were criticizing the decision of going to the IMF have themselves gone to the fund in past. “In order to increase the performance of the FBR, several crucial decisions are being made with new FBR chairman and renewed resolve of the government,” he said.