Karachi woman becomes highest taxpayer in Pakistan under amnesty scheme

  • Maryam Ali paid Rs3.3b in tax after she declared the worth of her foreign assets at Rs165b
Business

KARACHI – A woman belonging to Sindh capital has become the highest taxpayer in Pakistan under the government’s tax amnesty scheme.

Karachi-based Maryam Ali paid Rs.3.3 billion rupees in tax after she declared that her foreign assets worth Rs.165 billion, local media reported.

So far $300 million as tax has been received under the Tax Amnesty Scheme launched on April 10, 2018, the State Bank of Pakistan (SBP) revealed.

PM Abbasi reduces income taxes, announces tax amnesty for non-payers

The amnesty scheme legalizes undisclosed assets and income of Pakistanis held abroad and home by paying just 2 to 5% taxes.

Pakistanis have approximately $150 billion assets abroad and if the government succeeds in bringing back half of this amount, it will help Pakistan to generate sufficient funds to meet our domestic needs.

Earlier, Habibullah Khan declared liquid assets of $1.25 billion outside of Pakistan in the single largest Amnesty declaration in Pakistan

‘Mystery’ billionaire files single largest Amnesty declaration in Pakistan

He is the Founder and Chairman of Mega Conglomerate – Mega & Forbes Group of Companies (Mega Group – MFG), a diversified conglomerate with business holdings including the country’s largest container terminal, the largest shipping and logistics businesses in the country, third largest dairy producer, top tier cement manufacturing company, vertically integrated shipping company and most progressive real-estate developer responsible for the only L.E.E.D. certified commercial building in Pakistan.