PTI set to move court against tax amnesty scheme

02:23 PM | 6 Apr, 2018
PTI set to move court against tax amnesty scheme
LAHORE - Pakistan Tehreek-e-Insaf has announced to challenge tax amnesty scheme offered by the government which was announced last night by Prime Minister Shahid Khaqan Abbassi, in court.

According to media reports, PTI has rejected the 5 points amnesty scheme of government launched to whiten the ‘Black money’ for Pakistanis living in the country and abroad.

“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.

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.

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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