PTI set to move court against tax amnesty scheme
“The money launderers are filling their own pockets, this is not a scheme but a gift to looters. The matter of amnesty scheme will be raised in the Senate and a resolution will be moved against this scheme,” said Fawad, party’s spokesperson as he addressed media on Friday.
Besides challenging it in relevant court, the Party chief Imran Khan has also ordered to highlight the issue in parliament.
The politician also slammed the government in a series of tweets.
PTI rejects yet another amnesty scheme which is one more brazen attempt by Abbasi to save criminals. Why would PM seek to do this just 45 days before govt term ends? & why just 2 weeks before budget? This is a tax on honest people - a slap on the face of honest taxpayers.— Imran Khan (@ImranKhanPTI) April 6, 2018
The questionable intent of this scheme is also reflected in the confusion delib caused by Abbasi verbally referring to the scheme not being applicable to "politically exposed persons" while the doc being circulated refers to "holders of public office and public servants". https://t.co/HzesbXLBVB— Imran Khan (@ImranKhanPTI) April 6, 2018
Earlier on Thursday, Prime Minister Shahid Khaqan Abbasi opened a three-month window for wealthy Pakistanis to whiten their hidden local and foreign assets at nominal rates from two percent to five percent.
PM Abbasi reduces income taxes, announces tax ... 06:42 PM | 5 Apr, 2018
ISLAMABAD - Prime Minister Shahid Khaqan Abbasi on Thursday confirmed a reduction in the income tax percentage, also ...
Abbasi announced a tax amnesty scheme for nonpayers, however, clarified that politically exposed persons (PEPs) and their families were not eligible to benefit from the scheme. The amnesty scheme is valid till June 30.
- Income up to Rs0.1m per month not taxable
- 10%tax on annual income between Rs2.4-4.8m
- 15% tax on annual income above Rs4.8m
- CNIC to be used as income tax number
- Cash assets abroad can be brought back on payment of 2% penalty
- Foreign assets, which will be brought back, can be declared at lower rates
- Forex accounts within Pakistan will become visible to FBR
- No one without NTN can open a forex account
- Anyone receiving remittance over $100,000 in a year shall have to explain the source
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