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Senate body demands general tax amnesty after reprieve to realtors

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ISLAMABAD: Senate Committee on Finance has demanded tax amnesty for all after an amnesty scheme launched by the government for the real estate sector.

Senate Standing Committee on Finance yesterday demanded a general tax amnesty scheme for all sectors of the economy.

Senator Saleem Mandviwalla, the chairman of the committee, asked the Federal Board of Revenue (FBR) officials in a senate hearing to prepare a proposal for general tax amnesty scheme on the same pattern.

The committee members of the opposition parties as well as the PML-N expressed their dismay over the tax amnesty scheme for the real estate sector. The amnesty could be availed of till next finance bill 2017.

They said such amnesty scheme should be provided for the sectors that will generate employment opportunities.

Recently, the government had extended a blanket tax amnesty scheme for the realty sector, offering stakeholders to whiten money by paying a nominal 3% tax as compared to the standard 35% income tax rate.

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