No extension in Assets Declaration Scheme deadline: Finance Ministry

ISLAMABAD: The Ministry of Finance has said that the Assets Declaration Scheme will not be extended further the deadline of June 30, ARY News reported on Monday.

Talking to ARY News, Ministry of Finance spokesperson Dr. Khaqan Najeeb said that all required data has been available to the government, anyone if intends to legalize his or her assets can do this with payment of a very small tax rate.

It is pertinent to mention here that the government has announced to launch a crackdown against all benami and undeclared assets within the country or abroad after June 30 deadline of the Assets Declaration Scheme.

Dr. Najeeb said that the scheme was launched to extend the tax net to the non-filers of tax. These people could declare and legalize their assets with payment of four percent tax.

“The government has received the data about assets within the country as well as from the overseas.”

He said international standards have been observed for security of the data. He promised legal protection to the beneficiaries of the scheme.

The deadline of the assets scheme will come to an end after six days, on June 30th.

The government of Prime Minister Imran Khan has launched the tax amnesty scheme to allow inclusion of non-documented economy in taxation system and to promote economic revival and growth by encouraging tax compliance.