{"id":51743,"date":"2019-04-27T10:19:57","date_gmt":"2019-04-27T05:19:57","guid":{"rendered":"https:\/\/www.zameen.com\/blog\/?p=51743"},"modified":"2019-04-26T18:23:16","modified_gmt":"2019-04-26T13:23:16","slug":"new-amnesty-scheme-may-continue-till-december","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/new-amnesty-scheme-may-continue-till-december.html","title":{"rendered":"New amnesty scheme may continue till December"},"content":{"rendered":"<p>Islamabad: The FBR\u2019s final draft of the tax amnesty scheme proposes extending its timeline till December 2019, a news source reported. Progressively higher level of tax rates will be applicable with the passage of time.<\/p>\n<p>The tax rates for declaration of domestic and foreign assets will be 5% till June, 10% between June and September, and 20 percent between September and December 2019.<\/p>\n<p>Read:\u00a0<a href=\"https:\/\/www.zameen.com\/news\/fbr-directed-to-refine-amnesty-scheme-stipulations-in-two-days.html\" target=\"_blank\" rel=\"noopener noreferrer\">FBR directed to refine amnesty scheme stipulations in two days<\/a><\/p>\n<p>For domestic real estate, the proposed rate till June have been proposed at 1%, 2%, and 4 percent respectively for each phase of the amnesty scheme.<\/p>\n<p>Under the amnesty scheme, the value of foreign assets to be declared under the upcoming scheme shall be converted into Pak Rupees by applying the exchange rate on the date of declaration. The foreign asset will also need to be repatriated to Pakistan or invested in Pakistan Banao Certificate.<\/p>\n<p>Read:\u00a0<a href=\"https:\/\/www.zameen.com\/news\/amnesty-scheme-for-non-filers-on-the-cards-finance-minister.html\" target=\"_blank\" rel=\"noopener noreferrer\">Amnesty scheme for non-filers on the cards: Finance Minister<\/a><\/p>\n<p>The declarants will be entitled to incorporate such assets, income or sales in their books of accounts.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The FBR\u2019s final draft of the tax amnesty scheme proposes extending its timeline till December 2019, a news source reported. Progressively higher level of tax rates will be applicable with the passage of time. The tax rates for declaration of domestic and foreign assets will be 5% till June, 10% between June and September, and 20 percent between September and December 2019. Read:\u00a0FBR directed to refine amnesty scheme stipulations in two days For domestic real estate, the proposed rate till June have been proposed at 1%, 2%, and 4 percent respectively for each phase of the amnesty scheme. Under the amnesty scheme, the value of foreign assets to be declared under the upcoming scheme shall be converted into Pak Rupees by applying the exchange rate on the date of declaration. The foreign asset will also need to be repatriated to Pakistan or invested in Pakistan Banao Certificate. Read:\u00a0Amnesty scheme for non-filers on the cards: Finance Minister The declarants will be entitled to incorporate such assets, income or sales in their books of accounts.<\/p>\n","protected":false},"author":57,"featured_media":26795,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[11481],"persona":[],"class_list":{"0":"post-51743","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"tag-new-amnesty-scheme-may-continue-till-december"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>New amnesty scheme may continue till December - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The FBR\u2019s final draft of the tax amnesty scheme proposes extending its timeline till December 2019, a news source reported. 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