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undeclared assets

President issues ordinance ratifying tax amnesty scheme

ISLAMABAD: President Mamnoon Hussain on Sunday gave the go-ahead to a new tax amnesty announced by the prime minister last week to encourage Pakistanis to declare their undeclared assets in the country and abroad. The president issued four ordinances – Voluntary Declaration of Domestic Assets Ordinance 2018, Foreign Assets (Declaration and Repatriation) Ordinance 2018, Income Tax (Amendment) Ordinance 2018, and Economic Reforms (amendment) Ordinance 2018 – to implement the Economic Reforms Package (ERP). On April 05,…