ISLAMABAD – The Federal cabinet, on the recommendations of the Finance Minister, has approved the extension of closing date of tax amnesty schemes for declaration of foreign assets and domestic income and assets till July 31.
According to a press statement issued by the Federal Board of Revenue Sunday, this has been effected through a Presidential Ordinance.
The deadline for filing amnesty declarations was June 30, however, during last week a large number of representations have been received from trade bodies, professional associations and the general public for extendingthe closing date due to short operational period after clearing legal and procedural challenges.
The extension was also needed to remove ambiguities through clarifications and explanations required to providecertainty to the general public and to ensure effective implementation of the schemes, it added
