info@theassetsconsultants.com +92 21 351 55994 +92 21 351 55995

   FBR Pakistan goverment announced ..    APPEAL : Are we trying shut-down the Real Estate business..   OPENING CEREMONY OF SECTOR-D AND BUSINESS ZONE-DHA PH-VIII...   Budget 19-20: Planning on buying property?..    Public awarness message..    Attension! DHA City Plot Owner..    Attension! DHA OASIS FarmHouse Owner..    Expression of interest..    Salient Feature - FY 2019-20..   Budget FY 2019-20 brings more grief for real estate sector..   PM Imran urges nation for availing tax amnesty scheme Pakistan...   FBR formulating long-term strategy to expand tax net: Zaidi..   FBR to abolish 25 withholding taxes ..   Bahria Sports City Karachi ..   Defence and Clifton Association ..   Tax authorities have proposed the abolition of a distortive final income tax..   Tax in property..   KARACHI: Federal Board of Revenue (FBR) has issued rate of withholding tax ..    The Federal Board of Revenue has issued draft Assets Declaration...   TAX Amnest & Real Estate..   How to Effect interstitial Rate in Real Estate Maret ...   Federal Cabinet approves tax amnesty scheme ..   FEDERAL MINISTER FOR WATER RESOURCES CALLS ON ADMINISTRATOR DHA..   ADMINISTRATOR VISITS DHACSS MONTESSORI..   Assets Declatation Ordinance pay 1% legalize/whiten all real estate in Pakistan..   Bahria Town building world’s third largest mosque in Karachi..   Benami transactions must be regularised..   A state in crisis Opinion ..   Dream Home Expo concludes on high note Islamabad..   Dha city viz Bahria town Karachi ..   PM Imran inaugurates ‘Naya Pakistan Housing Scheme’ in Quetta..   Attension : DHA Karachi/DHA City Pilot Owner..   PTI’s Amnesty Scheme from April 15th..   Bahria Town Karachi has announced a new surcharge..   French delegation of 23 companies arrives...   Policy rate, inflation and taxation..   Free traveling from btk bus service..   Buy house in Dubai, get free trade licence..   GWADAR can radically transform the economic and geopolitical ...   Top court’s ruling in Bahria Town case lifts business sentiments..   Student Performance at DHA Suffa University..   Benefit For Sector 3 Plot Owners..

Federal Cabinet approves tax amnesty scheme

cohou3.jpg

ISLAMABAD: Prime Minister Imran Khan chaired the Federal Cabinet meeting on Tuesday during which he approved the tax amnesty scheme.

ccording to sources, the amnesty scheme recommends the following:

  • 5 per cent tax on individuals declaring assets by June 30, 2019
  • 10 per cent tax on individuals declaring assets by September 30, 2019
  • 20 per cent tax on individuals declaring assets by December 31, 2019
  • Recommendation for investment in Pakistan Banao Certificates for those declaring assets abroad
  • Recommendation for tax amnesty scheme for real estate sector
  • 1 per cent tax on those declaring property by June 30, 2019
  • 2 per cent tax on those declaring property by September 30, 2019
  • 4 per cent tax on those declaring property by December 31, 2019
  • The scheme will also be applicable on benami accounts
  • 3 per cent tax on undeclared sales
  • The scheme cannot be availed by individuals holding government positions after 2000
  • The scheme will not be applicable on cases being heard in court
  • The cabinet is also expected to be briefed on proposed measures to control prices of essential commodities amid rising inflation.
    It is also expected to discuss the $6 billion bailout package agreed upon with the International Monetary Fund.
    Furthermore, the cabinet is likely to approve a counsellor policy for the assistance of imprisoned Pakistanis and appointment of judges in special courts of Karachi and Quetta, among other matters.
    A day ago, newly appointed chairman of the Federal Board of Revenue (FBR) Shabbar Zaidi said the government's focus was to enhance direct tax net to improve the economy.


    The Assets Consultants

        Office # 1, Plot # 45-D, Muslim Street # 1
        Muslim Commercial Area, DHA Phase VI
        Karachi.

       info@theassetsconsultants.com    www.theassetsconsultants.com       +92 21 3 515 5994       +92 21 3 515 5995

    Contact UsHave a Question? We'll Answer You.