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Tax Amnesty Scheme: Last day to declare your assets

ISLAMABAD: The Federal Board of Revenue (FBR) on Tuesday reminded people that today (July 31) is the last date of Tax Amnesty Scheme and added that the time for declaration of assets will not exceed anymore. The FBR has warned all the undeclared asset holders to declare their local and foreign assets till today’s (Tuesday) midnight, otherwise, they would have to face consequences. The FBR chairperson Rukhsana Yasmin asserted that there were no chances of extending the date further. Read: PM announces tax…

Every infant is debt-ridden owing to flawed govt policies: CJP

LAHORE: While hearing the case of Pakistani’s foreign assets and bank accounts, on Monday, Chief Justice Saqib Nisar took policies of previous governments to task for having brought even newborns in debts. Chief Justice of Pakistan (CJP) was heading a three-member bench in Lahore registry of Supreme Court. Irked by non-implementation of apex court’s directives in the case of foreign assets and bank accounts hold by Pakistanis, CJP questioned about the amount of debts that every child owes. He further asked for all…

PM announces tax reforms package, amnesty scheme

 ISLAMABAD: Prime Minister Shahid Khaqan Abbasi has announced a major tax reforms package envisaging substantial reduction in income tax rates and launching of an amnesty scheme for undeclared assets. Announcing that all 120 million national identity card holders will be assigned tax numbers, Abbasi told a news conference in Islamabad: “If you don’t pay taxes, Pakistan will not be sustainable.” Under the amnesty plan, all Pakistanis will be able to declare their unreported income and assets and bring their money…