New tax amnesty scheme to be introduced before next budget: Asad Umar

ISLAMABAD: Finance Minister Asad Umar on Tuesday said a new tax amnesty scheme would be introduced before next budget, ARY News reported.

“Structure of tax scheme has not been finalised yet but discussions on the scheme were being conducted with all the stakeholders.” Umar said during an informal media talk here in Islamabad.

To a query, the minister said notices had been issued regarding fake accounts.

Minister of State for Revenue Hammad Azhar said the government was accumulating data and within a couple of days it would be made public that how many notices had been issued.

To another query, Asad Umar said the court had disqualified senior Pakistan Tehreek-e-Insaf (PTI) leader Jahangir Khan Tareen, which did not mean that he was no more a citizen of the country.

“If the prime minister thinks that Jahangir Tareen can give beneficial suggestions, then there is no harm,” he said.

Separately while addressing a ceremony in Islamabad, the finance minister said that the government was mulling to abolish unnecessary withholding taxes.

Asad Umar underscored the need for reforms in property business. He said that the current tax system could not detect transactions and profit in property business.