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FBR suggests four rates for amnesty scheme - Zameen News

FBR suggests four rates for amnesty scheme

April 17, 2019 • news

Islamabad: The Federal Board of Revenue (FBR) has suggested four different rates for the proposed tax amnesty scheme to the government, a news source reported.

ReadCabinet defers decision to approve amnesty scheme

These rates – one, five, 10, or 15-percent - will be applicable on domestic assets, foreign assets, benami assets, and foreign liquid assets. Public office-holders would reportedly be barred from availing the assets declaration scheme.

The federal institution has also asked the government to prohibit individuals who seek to regularise their ill-gotten wealth from availing the amnesty scheme.

Read: FBR finds huge benami account

Another proposal under consideration is to offer lower rates to those individuals who plan to bring back their wealth to Pakistan in a bid to regularise their assets.