{"id":39540,"date":"2018-06-26T17:31:08","date_gmt":"2018-06-26T12:31:08","guid":{"rendered":"https:\/\/www.zameen.com\/blog\/?p=39540"},"modified":"2019-05-20T04:49:54","modified_gmt":"2019-05-20T04:49:54","slug":"heres-how-you-can-avail-the-tax-amnesty-scheme-2018","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/blog\/heres-how-you-can-avail-the-tax-amnesty-scheme-2018.html","title":{"rendered":"Here\u2019s how you can avail the Tax Amnesty Scheme 2018"},"content":{"rendered":"<p>The Tax Amnesty Scheme 2018 was announced by the former Prime Minister Shahid Khaqan Abbasi on 5<sup>th<\/sup> April 2018. <a href=\"https:\/\/www.zameen.com\/blog\/all-you-need-to-know-about-the-prime-ministers-tax-reforms-and-amnesty-scheme.html\" target=\"_blank\" rel=\"noopener noreferrer\">The amnesty scheme<\/a> and the following <a href=\"https:\/\/www.zameen.com\/blog\/budget-2018-19-the-real-estate-question.html\" target=\"_blank\" rel=\"noopener noreferrer\">budget<\/a> are comprehensive efforts by the state and former government to formalise the economy and, more urgently, shore up Pakistan\u2019s foreign currency reserves.<\/p>\n<p>The situation was slightly ambiguous previously. The Supreme Court had yet to give a ruling on the scheme, so a lot of people were cautiously holding back to see how the situation unfolds. Now that the <a href=\"https:\/\/www.zameen.com\/news\/tax-amnesty-scheme-update.html\" target=\"_blank\" rel=\"noopener noreferrer\">Supreme Court has given the green signal to the amnesty scheme<\/a>, people have begun availing it in large numbers and <a href=\"https:\/\/www.zameen.com\/news\/amnesty-scheme-may-break-success-record-with-scs-green-signal.html\" target=\"_blank\" rel=\"noopener noreferrer\">the scheme seems geared for success<\/a>.<\/p>\n<p>There\u2019s still a week to go before the period of Tax Amnesty 2018 ends on June 30, 2018. There have been calls for <a href=\"https:\/\/www.zameen.com\/news\/extension-needed-for-tax-amnesty-scheme-icci.html\" target=\"_blank\" rel=\"noopener noreferrer\">extension of the amnesty scheme period<\/a>, but whether or not that happens, there is still ample time for you to avail the scheme. This is what the blog is about. It takes you through the entire process of registering for and availing the Tax Amnesty Scheme 2018.<\/p>\n<h2><strong>1. Register on FBR Iris system<\/strong>.<\/h2>\n<p>There are two ways you can do this: you can register exclusively for the amnesty scheme, as shown below, or you can register normally on Iris. It is recommended to simply do the latter since you cannot file your taxes if you register only for amnesty scheme. To do that, you can check our post on <a href=\"https:\/\/www.zameen.com\/blog\/become-a-tax-filer-how-to-register-online-to-file-your-income-tax-returns.html\" target=\"_blank\" rel=\"noopener noreferrer\">how to register online to file your income tax returns<\/a> as it takes you through the entire process of registration on Iris.<\/p>\n<p>Note that if you are already registered on Iris, you don\u2019t need to register again. If you are looking to simply register for the Tax Amnesty Scheme 2018, you can follow the steps below. The process is almost the same as normal registration:<\/p>\n<p>i. Visit FBR website and click \u201cFile Returns\u201d, as shown in the image below.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-39541\" src=\"https:\/\/www.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Main-page-1-300x121.png\" alt=\"\" width=\"632\" height=\"255\" srcset=\"https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Main-page-1-300x121.png 300w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Main-page-1-537x217.png 537w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Main-page-1.png 626w\" sizes=\"auto, (max-width: 632px) 100vw, 632px\" \/><\/p>\n<p>ii. From there, you can go to Iris:<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-39545\" src=\"https:\/\/www.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Statements-page-2-300x123.png\" alt=\"\" width=\"680\" height=\"279\" srcset=\"https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Statements-page-2-300x123.png 300w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Statements-page-2-537x220.png 537w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Statements-page-2.png 612w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/p>\n<p>iii. Next, you will have to click \u201cRegistration for tax amnesty(if not already registered)\u201d, as outlined in the image below:<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-39546\" src=\"https:\/\/www.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Login-1-300x280.png\" alt=\"\" width=\"485\" height=\"453\" srcset=\"https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Login-1-300x280.png 300w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Login-1.png 468w\" sizes=\"auto, (max-width: 485px) 100vw, 485px\" \/><\/p>\n<p>iv. This will open a dialog box that you will have to fill:<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-39547\" src=\"https:\/\/www.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Amnesty-details-275x300.png\" alt=\"\" width=\"329\" height=\"359\" srcset=\"https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Amnesty-details-275x300.png 275w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Amnesty-details.png 470w\" sizes=\"auto, (max-width: 329px) 100vw, 329px\" \/><\/p>\n<p>v. Once you fill out the details, and click \u201cSubmit,\u201d you will receive a text containing your login details, on both your email and mobile phone (if the number is Pakistani). You will be able to use those to log into the Iris system.<\/p>\n<h2><strong>2. Calculate your taxes<\/strong><\/h2>\n<p>Once you have registered, you will be able to log into Iris, as outlined in the image below:<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-39548\" src=\"https:\/\/www.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Login-details-300x281.png\" alt=\"\" width=\"323\" height=\"303\" srcset=\"https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Login-details-300x281.png 300w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Login-details.png 475w\" sizes=\"auto, (max-width: 323px) 100vw, 323px\" \/><\/p>\n<h4><strong>Calculating taxes on foreign assets:<\/strong><\/h4>\n<p>i. When you log in, you will directed to the page as shown below. If you are looking to declare your foreign assets, you will need to click the \u201cDeclaration and repatriation of assets and income held outside Pakistan\u201d as encircled below:<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-39551\" src=\"https:\/\/www.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Foreign-Declaration-1-300x168.png\" alt=\"\" width=\"519\" height=\"291\" srcset=\"https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Foreign-Declaration-1-300x168.png 300w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Foreign-Declaration-1-537x302.png 537w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Foreign-Declaration-1.png 666w\" sizes=\"auto, (max-width: 519px) 100vw, 519px\" \/><\/p>\n<p>ii. You will be directed to the page, as shown below. Once there, you will have to add the tax \u201cPeriod\u201d first, as outlined:<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-39553\" src=\"https:\/\/www.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Foreign-assets-2-300x97.png\" alt=\"\" width=\"446\" height=\"144\" srcset=\"https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Foreign-assets-2-300x97.png 300w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Foreign-assets-2.png 402w\" sizes=\"auto, (max-width: 446px) 100vw, 446px\" \/><\/p>\n<p>iii. The following dialog box will open. You will have to input \u201c2018\u201d in the \u201cTax Period\u201d and click the search icon. \u201cSelect\u201d the relevant period, as shown in image below:<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-39554\" src=\"https:\/\/www.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Period.png\" alt=\"\" width=\"298\" height=\"281\" \/><\/p>\n<p>iv. As a result, you will be directed to the page shown below, where you can input the details of the foreign assets that you want to declare. Clicking on \u201cForeign Assets\u201d, \u201cLiquid assets not repatriated\u201d and \u201cImmovable Property\u201d will open screens where you can input the details of your property. You just have to input amounts in the field where editing is enabled. In places where you may have to input additional details about the amounts, you will see the \u201c+\u201d sign and you can click it to add the details.<\/p>\n<p>Once you have added all the details, you will need to \u201cCalculate\u201d.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-39555\" src=\"https:\/\/www.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Foreign-assets-data-form-300x62.png\" alt=\"\" width=\"808\" height=\"167\" srcset=\"https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Foreign-assets-data-form-300x62.png 300w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Foreign-assets-data-form-768x159.png 768w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Foreign-assets-data-form-537x111.png 537w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Foreign-assets-data-form.png 1172w\" sizes=\"auto, (max-width: 808px) 100vw, 808px\" \/><\/p>\n<p>v. You will find out the amount you have to pay in taxes on these foreign assets.<\/p>\n<h4><strong>Calculating taxes on domestic <\/strong><strong>assets<\/strong><\/h4>\n<p>i. The process for this is not much different. You will have to select \u201cVoluntary declaration of domestic assets\u201d, as shown in the image below:<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-39557\" src=\"https:\/\/www.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Domestic-amnesty-1-300x157.png\" alt=\"\" width=\"462\" height=\"242\" srcset=\"https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Domestic-amnesty-1-300x157.png 300w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Domestic-amnesty-1-537x281.png 537w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Domestic-amnesty-1.png 614w\" sizes=\"auto, (max-width: 462px) 100vw, 462px\" \/><\/p>\n<p>ii. You will have to select period, as explained in points ii and iii of the previous section on foreign assets.<\/p>\n<p>iii. Once the period has been added, you will be directed to the page shown below. There you can add details of your domestic assets, and where needed, you can add further details about your property by clicking the \u201c+\u201d sign.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-39558\" src=\"https:\/\/www.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Domestic-assets-details-300x89.png\" alt=\"\" width=\"630\" height=\"187\" srcset=\"https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Domestic-assets-details-300x89.png 300w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Domestic-assets-details-768x228.png 768w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Domestic-assets-details-537x159.png 537w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Domestic-assets-details.png 800w\" sizes=\"auto, (max-width: 630px) 100vw, 630px\" \/><\/p>\n<p>iv. When you \u201cCalculate\u201d, you will be able to find the amounts you need to pay under the domestic assets as well.<\/p>\n<h2><strong>3. PSID generation<\/strong><\/h2>\n<p>i. To make payments under either of the above options, you will have to visit the <a href=\"https:\/\/e.fbr.gov.pk\/AuthLogin.aspx\" rel=\"nofollow\">FBR portal<\/a> . That\u2019s where you will be able to generate Payment Slip ID (PSID).<\/p>\n<p>ii. Click on \u201ce-Payments\u201d and then click \u201cIncome Tax\u201d tab within it, as outlined in the image below.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-39559\" src=\"https:\/\/www.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/PSID-300x148.png\" alt=\"\" width=\"691\" height=\"341\" srcset=\"https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/PSID-300x148.png 300w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/PSID-768x380.png 768w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/PSID-537x266.png 537w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/PSID.png 1074w\" sizes=\"auto, (max-width: 691px) 100vw, 691px\" \/><\/p>\n<p>iii. You will be taken to the following page, where you will select the \u201cTax Year\u201d (2018) and change the \u201cSelect Type\u201d (outlined in the image) to \u201cCNIC\u201d. Finally, you will have to write your CNIC number in the section right below it, with dashes. The system will fill out the remaining details for you.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-39560\" src=\"https:\/\/www.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Income-Tax-Payment-Page-300x100.png\" alt=\"\" width=\"759\" height=\"253\" srcset=\"https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Income-Tax-Payment-Page-300x100.png 300w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Income-Tax-Payment-Page-768x255.png 768w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Income-Tax-Payment-Page-537x178.png 537w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Income-Tax-Payment-Page.png 813w\" sizes=\"auto, (max-width: 759px) 100vw, 759px\" \/><\/p>\n<p>iv. In the \u201cDirect Taxes Payment\u201d section below, you will have to \u201cSelect Tax Payment Nature\u201d. For amnesty scheme, choose \u201cAdmitted Income Tax.\u201d<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-39571\" src=\"https:\/\/www.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Payment-Nature.-1-300x111.png\" alt=\"\" width=\"595\" height=\"220\" srcset=\"https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Payment-Nature.-1-300x111.png 300w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Payment-Nature.-1-768x285.png 768w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Payment-Nature.-1-537x199.png 537w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Payment-Nature.-1.png 865w\" sizes=\"auto, (max-width: 595px) 100vw, 595px\" \/><\/p>\n<p>v.<strong> To pay taxes on foreign assets<\/strong>, further select \u201c92033-5- Payment of tax on Repatriation of assets &amp; income under Section 5\u201d.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-39572\" src=\"https:\/\/www.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Tax-Payment-section-nature-1-300x54.png\" alt=\"\" width=\"606\" height=\"109\" srcset=\"https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Tax-Payment-section-nature-1-300x54.png 300w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Tax-Payment-section-nature-1-537x96.png 537w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Tax-Payment-section-nature-1.png 753w\" sizes=\"auto, (max-width: 606px) 100vw, 606px\" \/><\/p>\n<p>vi.<strong> For taxes on declared domestic assets<\/strong>, select \u201c92034-5- Payment of tax on domestic assets under Section 5\u201d.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-39573\" src=\"https:\/\/www.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Domestic-payment-nature-1-300x43.png\" alt=\"\" width=\"607\" height=\"87\" srcset=\"https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Domestic-payment-nature-1-300x43.png 300w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Domestic-payment-nature-1-768x110.png 768w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Domestic-payment-nature-1-537x77.png 537w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Domestic-payment-nature-1.png 819w\" sizes=\"auto, (max-width: 607px) 100vw, 607px\" \/><\/p>\n<p>vii. Add amount.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-39574\" src=\"https:\/\/www.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Amount-1-300x60.png\" alt=\"\" width=\"610\" height=\"122\" srcset=\"https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Amount-1-300x60.png 300w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Amount-1-768x154.png 768w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Amount-1-537x108.png 537w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Amount-1.png 890w\" sizes=\"auto, (max-width: 610px) 100vw, 610px\" \/><\/p>\n<p>viii, Add payment method, enter the amount in the proper section again, enter your mobile number and email, and click \u201cCreate\u201d.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-39575\" src=\"https:\/\/www.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Create-300x59.png\" alt=\"\" width=\"640\" height=\"126\" srcset=\"https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Create-300x59.png 300w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Create-768x151.png 768w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Create-537x106.png 537w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Create.png 1287w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/p>\n<p>ix. You will be directed to the following screen. There, you can note down the PSID number or print out the PSID.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-39576\" src=\"https:\/\/www.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/PSID-number-300x138.png\" alt=\"\" width=\"600\" height=\"276\" srcset=\"https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/PSID-number-300x138.png 300w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/PSID-number-768x353.png 768w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/PSID-number-537x247.png 537w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/PSID-number.png 963w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/p>\n<h2><strong>4. Payment under Tax Amnesty 2018<\/strong><\/h2>\n<h4><strong>Foreign Assets<\/strong><\/h4>\n<p>i. Finally, on the payment part, <strong>to pay taxes on the foreign assets<\/strong>, you will have to remit the taxes due, in USD, to the following SBP account:<\/p>\n<p><strong>Name of Payee:<\/strong> State Bank of Pakistan<\/p>\n<p><strong>Payee\u2019s Address:<\/strong> I.I. Chundrigar Road, Karachi, Pakistan<\/p>\n<p><strong>Payee\u2019s SWIFT Code:<\/strong> SBPPPKKA<\/p>\n<p><strong>Bank Name: <\/strong>National Bank of Pakistan<\/p>\n<p><strong>Bank Address:<\/strong> New York, USA.<\/p>\n<p><strong>Payee\u2019s Account Number:<\/strong> 55854560<\/p>\n<p><strong>Bank SWIFT Code:<\/strong> NBPAUS33<\/p>\n<p>When you have paid the taxes to the SBP account, you will have to email the copy of wire transfer and other details, including your CNIC\/NTN number and signed copies of your PSID to SBP email address:\u00a0<a href=\"mailto:tax.foreignasset@sbp.org.pk\">tax.foreignasset@sbp.org.pk<\/a><\/p>\n<p>SBP will send you back the scanned copy of Computerised Payment Receipt (CPR).<\/p>\n<p>ii.<strong> To repatriate liquid foreign assets<\/strong> so they could be credited into your PKR account and\/or invested into Federal Government bonds, you will have to remit your liquid assets to the account mentioned above. You will also have to email the same details as above. Other things you will have to send will include:<\/p>\n<p>a.<strong>\u00a0<\/strong>An application with signed statement to have the liquid assets invested in Government bonds and the amount to be credited to PKR account of tax payer.<\/p>\n<p>b. A copy of your CNIC<\/p>\n<p>c. Complete details of your PKR bank account where you will be credited with the liquid assets and be sent the profits on your investment. These include bank and branch name, account title, and IBAN of your PKR bank account.<\/p>\n<p>d. You will receive confirmation from SBP that your assets have been invested.<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<h4><strong>Domestic Assets<\/strong><\/h4>\n<p>i.<strong> For payment of taxes on domestic assets<\/strong>, you can make the payment online through your bank account, billing it to the FBR, using your PSID Number.<\/p>\n<p>ii. Or you can visit an ATM and follow the same procedure as paying a bill to the FBR, again with the help of your PSID number. These are new services launched by FBR to facilitate payment of taxes for the taxpayers.<\/p>\n<p>iii. A Computerised Payment Receipt (CPR) will be sent to your email, and you will also receive a confirmation SMS. CPR will also be available on your Iris account for any future use.<\/p>\n<p>iv. An alternative is to visit your nearest State Bank of Pakistan (SBP) or National Bank of Pakistan (NBP) with your CNIC and the printout of PSID. Consequently, you will get a stamped copy of your CPR from the cashier at the bank.<\/p>\n<h2><strong>5. Submission of Amnesty Declaration Form<\/strong><\/h2>\n<p>i. This is the final step in the process. You will have to log into FBR Iris, and then on the screen that appears, click \u201cDraft\u201d, as indicated below:<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-39577\" src=\"https:\/\/www.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Draft-300x157.png\" alt=\"\" width=\"577\" height=\"302\" srcset=\"https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Draft-300x157.png 300w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Draft-768x401.png 768w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Draft-537x281.png 537w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Draft.png 796w\" sizes=\"auto, (max-width: 577px) 100vw, 577px\" \/><\/p>\n<p>ii. Consequently, you will see two drafts in the tax section (if you are availing both domestic and foreign assets side of the scheme). When you click either of them, you will be able to \u201cEdit\u201d them, by pressing the tab indicated in the image above.<\/p>\n<p>iii. You will be led to the following screens, depending on whether it is a foreign or domestic asset.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-39578\" src=\"https:\/\/www.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Payment-during-verification-300x107.png\" alt=\"\" width=\"519\" height=\"185\" srcset=\"https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Payment-during-verification-300x107.png 300w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Payment-during-verification-768x274.png 768w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Payment-during-verification-537x191.png 537w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Payment-during-verification.png 856w\" sizes=\"auto, (max-width: 519px) 100vw, 519px\" \/><\/p>\n<p><em>In case of domestic assets<\/em><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-39579\" src=\"https:\/\/www.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Foreign-verification-300x85.png\" alt=\"\" width=\"557\" height=\"158\" srcset=\"https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Foreign-verification-300x85.png 300w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Foreign-verification-768x217.png 768w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Foreign-verification-537x152.png 537w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Foreign-verification.png 831w\" sizes=\"auto, (max-width: 557px) 100vw, 557px\" \/><\/p>\n<p><em>In case of foreign assets<\/em><\/p>\n<p>iv. In both cases, you will have to click \u201cPayment\u201d tab. This will lead you to the following page, where, you will need to click the \u201c+\u201d button on the extreme right, as indicated in the image below.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-39580\" src=\"https:\/\/www.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/CPR-1-300x53.png\" alt=\"\" width=\"623\" height=\"110\" srcset=\"https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/CPR-1-300x53.png 300w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/CPR-1-768x135.png 768w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/CPR-1-537x95.png 537w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/CPR-1.png 800w\" sizes=\"auto, (max-width: 623px) 100vw, 623px\" \/><\/p>\n<p>v. You will be led to the following screen, where you can add your CPR number and search for it:<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-39581\" src=\"https:\/\/www.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/CPR-2-300x60.png\" alt=\"\" width=\"585\" height=\"117\" srcset=\"https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/CPR-2-300x60.png 300w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/CPR-2-537x107.png 537w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/CPR-2.png 670w\" sizes=\"auto, (max-width: 585px) 100vw, 585px\" \/><\/p>\n<p>vi. When the CPR has been added, you will to click the \u201cVerification\u201d tab as indicated below:<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-39582\" src=\"https:\/\/www.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Verification-300x57.png\" alt=\"\" width=\"626\" height=\"119\" srcset=\"https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Verification-300x57.png 300w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Verification-768x146.png 768w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Verification-537x102.png 537w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Verification.png 800w\" sizes=\"auto, (max-width: 626px) 100vw, 626px\" \/><\/p>\n<p>vii. You will have to read the declaration and enter your PIN (sent to you when you make IRIS account) and then, finally, click \u201cSubmit\u201d, as shown in the image below:<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-39583\" src=\"https:\/\/www.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Submit-300x65.png\" alt=\"\" width=\"485\" height=\"105\" srcset=\"https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Submit-300x65.png 300w, https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Submit.png 459w\" sizes=\"auto, (max-width: 485px) 100vw, 485px\" \/><\/p>\n<p>viii. Once you submit declaration, it cannot be changed and will become read-only.<\/p>\n<p>ix. You can print that declaration by clicking the \u201cPrint\u201d button shared above.<\/p>\n<p>That\u2019s it, folks! If you have followed all the steps from the top, you assets have been legalised. If you have any questions about, you can ask away in the comments section below. You can also head to the <a href=\"https:\/\/www.zameen.com\/forum\/\" target=\"_blank\" rel=\"noopener noreferrer\">Zameen Forum<\/a> for a detailed conversation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Tax Amnesty Scheme 2018 was announced by the former Prime Minister Shahid Khaqan Abbasi on 5th April 2018. The amnesty scheme and the following budget are comprehensive efforts by the state and former government to formalise the economy and, more urgently, shore up Pakistan\u2019s foreign currency reserves. The situation was slightly ambiguous previously. The Supreme Court had yet to give a ruling on the scheme, so a lot of people were cautiously holding back to see how the situation unfolds. Now that the Supreme Court has given the green signal to the amnesty scheme, people have begun availing it in large numbers and the scheme seems geared for success. There\u2019s still a week to go before the period of Tax Amnesty 2018 ends on June 30, 2018. There have been calls for extension of the amnesty scheme period, but whether or not that happens, there is still ample time for you to avail the scheme. This is what the blog is about. It takes you through the entire process of registering for and availing the Tax Amnesty Scheme 2018. 1. Register on FBR Iris system. There are two ways you can do this: you can register exclusively for the&hellip;<\/p>\n","protected":false},"author":57,"featured_media":39608,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[11053],"tags":[7177,7180,7183,3362,3193,7181,7182,7178,7179],"persona":[],"class_list":{"0":"post-39540","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-laws-taxes","8":"tag-amnesty-scheme-2018-pakistan","9":"tag-avail-tax-amnesty","10":"tag-avail-tax-amnesty-scheme","11":"tag-fbr","12":"tag-federal-board-of-revenue","13":"tag-how-to-register-for-tax-amnesty-scheme","14":"tag-how-to-utilise-tax-amnesty","15":"tag-pakistan-tax-amnesty-scheme-2018","16":"tag-tax-amnesty-2018","17":"cat-11053-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Here\u2019s how you can avail the Tax Amnesty Scheme 2018<\/title>\n<meta name=\"description\" content=\"The Tax Amnesty Scheme 2018 was announced by the former Prime Minister Shahid Khaqan Abbasi on 5th April 2018. The amnesty scheme and the following budget\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/blog\/heres-how-you-can-avail-the-tax-amnesty-scheme-2018.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Here\u2019s how you can avail the Tax Amnesty Scheme 2018\" \/>\n<meta property=\"og:description\" content=\"The Tax Amnesty Scheme 2018 was announced by the former Prime Minister Shahid Khaqan Abbasi on 5th April 2018. The amnesty scheme and the following budget\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/blog\/heres-how-you-can-avail-the-tax-amnesty-scheme-2018.html\" \/>\n<meta property=\"og:site_name\" content=\"A blog about real estate, lifestyle and tourism in Pakistan | Zameen Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ZameenPK\" \/>\n<meta property=\"article:published_time\" content=\"2018-06-26T12:31:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-05-20T04:49:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Amnesty-scheme.png\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"350\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Muhammad Farhad\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:site\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Muhammad Farhad\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"8 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Here\u2019s how you can avail the Tax Amnesty Scheme 2018","description":"The Tax Amnesty Scheme 2018 was announced by the former Prime Minister Shahid Khaqan Abbasi on 5th April 2018. The amnesty scheme and the following budget","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.zameen.com\/blog\/heres-how-you-can-avail-the-tax-amnesty-scheme-2018.html","og_locale":"en_US","og_type":"article","og_title":"Here\u2019s how you can avail the Tax Amnesty Scheme 2018","og_description":"The Tax Amnesty Scheme 2018 was announced by the former Prime Minister Shahid Khaqan Abbasi on 5th April 2018. The amnesty scheme and the following budget","og_url":"https:\/\/www.zameen.com\/blog\/heres-how-you-can-avail-the-tax-amnesty-scheme-2018.html","og_site_name":"A blog about real estate, lifestyle and tourism in Pakistan | Zameen Blog","article_publisher":"https:\/\/www.facebook.com\/ZameenPK","article_published_time":"2018-06-26T12:31:08+00:00","article_modified_time":"2019-05-20T04:49:54+00:00","og_image":[{"width":600,"height":350,"url":"https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Amnesty-scheme.png","type":"image\/png"}],"author":"Muhammad Farhad","twitter_card":"summary_large_image","twitter_creator":"@ZameenProperty","twitter_site":"@ZameenProperty","twitter_misc":{"Written by":"Muhammad Farhad","Est. reading time":"8 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.zameen.com\/blog\/heres-how-you-can-avail-the-tax-amnesty-scheme-2018.html#article","isPartOf":{"@id":"https:\/\/www.zameen.com\/blog\/heres-how-you-can-avail-the-tax-amnesty-scheme-2018.html"},"author":{"name":"Muhammad Farhad","@id":"https:\/\/www.zameen.com\/blog\/#\/schema\/person\/9fc1132e74cdd346f201633b8d1cebc9"},"headline":"Here\u2019s how you can avail the Tax Amnesty Scheme 2018","datePublished":"2018-06-26T12:31:08+00:00","dateModified":"2019-05-20T04:49:54+00:00","mainEntityOfPage":{"@id":"https:\/\/www.zameen.com\/blog\/heres-how-you-can-avail-the-tax-amnesty-scheme-2018.html"},"wordCount":1685,"image":{"@id":"https:\/\/www.zameen.com\/blog\/heres-how-you-can-avail-the-tax-amnesty-scheme-2018.html#primaryimage"},"thumbnailUrl":"https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Amnesty-scheme.png","keywords":["Amnesty scheme 2018 Pakistan","Avail tax amnesty","avail tax amnesty scheme","FBR","Federal Board of Revenue","how to register for tax amnesty scheme","how to utilise tax amnesty","Pakistan Tax Amnesty Scheme 2018","Tax Amnesty 2018"],"articleSection":["Laws &amp; Taxes"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.zameen.com\/blog\/heres-how-you-can-avail-the-tax-amnesty-scheme-2018.html","url":"https:\/\/www.zameen.com\/blog\/heres-how-you-can-avail-the-tax-amnesty-scheme-2018.html","name":"Here\u2019s how you can avail the Tax Amnesty Scheme 2018","isPartOf":{"@id":"https:\/\/www.zameen.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.zameen.com\/blog\/heres-how-you-can-avail-the-tax-amnesty-scheme-2018.html#primaryimage"},"image":{"@id":"https:\/\/www.zameen.com\/blog\/heres-how-you-can-avail-the-tax-amnesty-scheme-2018.html#primaryimage"},"thumbnailUrl":"https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Amnesty-scheme.png","datePublished":"2018-06-26T12:31:08+00:00","dateModified":"2019-05-20T04:49:54+00:00","author":{"@id":"https:\/\/www.zameen.com\/blog\/#\/schema\/person\/9fc1132e74cdd346f201633b8d1cebc9"},"description":"The Tax Amnesty Scheme 2018 was announced by the former Prime Minister Shahid Khaqan Abbasi on 5th April 2018. The amnesty scheme and the following budget","breadcrumb":{"@id":"https:\/\/www.zameen.com\/blog\/heres-how-you-can-avail-the-tax-amnesty-scheme-2018.html#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.zameen.com\/blog\/heres-how-you-can-avail-the-tax-amnesty-scheme-2018.html"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.zameen.com\/blog\/heres-how-you-can-avail-the-tax-amnesty-scheme-2018.html#primaryimage","url":"https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Amnesty-scheme.png","contentUrl":"https:\/\/cdn-blog.zameen.com\/blog\/wp-content\/uploads\/2018\/06\/Amnesty-scheme.png","width":600,"height":350},{"@type":"BreadcrumbList","@id":"https:\/\/www.zameen.com\/blog\/heres-how-you-can-avail-the-tax-amnesty-scheme-2018.html#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.zameen.com\/blog"},{"@type":"ListItem","position":2,"name":"Laws &amp; Taxes","item":"https:\/\/www.zameen.com\/blog\/laws-taxes"},{"@type":"ListItem","position":3,"name":"Here\u2019s how you can avail the Tax Amnesty Scheme 2018"}]},{"@type":"WebSite","@id":"https:\/\/www.zameen.com\/blog\/#website","url":"https:\/\/www.zameen.com\/blog\/","name":"A blog about real estate, lifestyle and tourism in Pakistan | Zameen Blog","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.zameen.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.zameen.com\/blog\/#\/schema\/person\/9fc1132e74cdd346f201633b8d1cebc9","name":"Muhammad Farhad","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/13eadb15a0125b6648e56703aaf7543058fea376b06a73209cde68f09b9b093d?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/13eadb15a0125b6648e56703aaf7543058fea376b06a73209cde68f09b9b093d?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/13eadb15a0125b6648e56703aaf7543058fea376b06a73209cde68f09b9b093d?s=96&d=mm&r=g","caption":"Muhammad Farhad"},"description":"Muhammad Farhad is a Content Developer at Zameen.com."}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.zameen.com\/blog\/wp-json\/wp\/v2\/posts\/39540","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.zameen.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.zameen.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.zameen.com\/blog\/wp-json\/wp\/v2\/users\/57"}],"replies":[{"embeddable":true,"href":"https:\/\/www.zameen.com\/blog\/wp-json\/wp\/v2\/comments?post=39540"}],"version-history":[{"count":11,"href":"https:\/\/www.zameen.com\/blog\/wp-json\/wp\/v2\/posts\/39540\/revisions"}],"predecessor-version":[{"id":57970,"href":"https:\/\/www.zameen.com\/blog\/wp-json\/wp\/v2\/posts\/39540\/revisions\/57970"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.zameen.com\/blog\/wp-json\/wp\/v2\/media\/39608"}],"wp:attachment":[{"href":"https:\/\/www.zameen.com\/blog\/wp-json\/wp\/v2\/media?parent=39540"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.zameen.com\/blog\/wp-json\/wp\/v2\/categories?post=39540"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.zameen.com\/blog\/wp-json\/wp\/v2\/tags?post=39540"},{"taxonomy":"persona","embeddable":true,"href":"https:\/\/www.zameen.com\/blog\/wp-json\/wp\/v2\/persona?post=39540"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}