Government on the way to introduce one time amnesty scheme for offshore companies

ISLAMABAD - Government has started making preparations to introduce one-time amnesty scheme for offshore companies to bring back "black money" of Pakistanis from other countries.

Recommendations from the finance ministry, investment board, the federal board of revenue, a state bank and FIA have been sought in this regard.

Earlier, senior vice president of Federation of Pakistan Chambers of Commerce & Industry (FPCCI) Sheikh Khalid Tawab had urged the Finance Minister Ishaq Dar to announce a one-time amnesty scheme for declaring foreign assets and cash held by Pakistanis in abroad against payment of 3% Tax.

The scheme is aimed at easing the procedure for bringing back the capital and money of offshore companies to Pakistan.

The authorities claimed that this move would encourage foreign investment.-Online