Islamabad: The Federal Board of Revenue (FBR) has directed the departments concerned to provide detailed reports on individuals who have availed the amnesty scheme, a news source reported. The taxation authority has sought details regarding the cases recently closed following the recovery of taxes and awarding penalties, along with those cases sent for filing of references.
Commissioner Inland Revenue for Benami Zone II Lahore Khalid Khan recently submitted a report on five benami cases under investigation, along with closed cases, to the FBR Headquarters.
Previously, the government had introduced an amnesty scheme for the public; allowing them to declare their assets and accounts by June 30, 2019 – at a tax rate between 1.5% and 4%. Following an encouraging response, the executive decided extended the facility till July 3.
The FBR’s initial estimates revealed that around 90,000 non-active taxpayers availed the amnesty provision. The taxation authority said that most of these people belonged to the middle and upper-middle income groups. It also stated that out of the total assets whitened, about 80% were domestic and 20% foreign.
Moreover, the federal institution announced that the number of individuals placed on its Active Taxpayers List (ATL) recently exceeded the two million.