maverick1977
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More than that... tax the declared assets ... sad so many corrupt ... looters.. I bet that is a fragment of corrupt mafia
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Over 95,000 people availed Assets Declaration Scheme so far:
- Thread starter Shahzaz ud din
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More than that... tax the declared assets ... sad so many corrupt ... looters.. I bet that is a fragment of corrupt mafia
Shahzaz ud din
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As per CBR chiarman number has increased to 150,000 and tax collected is around 70 billions.
maverick1977
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500M dollars... not bad at all ... what’s the estimate... 10% of hidden wealth declared ?
Shahzaz ud din
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FBR has already given one month extension for tax filing.So another big chunk is on its way specially the gold traders who currently own several trillion rupees of undeclared gold.
Imad.Khan
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Compare that to the amnesty scheme provided by PMLN
https://www.dawn.com/news/1419532
Now people that didn't take advantage of this scheme will be targeted.
Get ready for crying and moaning from the criminals and traitors.
https://www.dawn.com/news/1419532
Now people that didn't take advantage of this scheme will be targeted.
Get ready for crying and moaning from the criminals and traitors.
ghazi52
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110,000 declare assets under amnesty scheme
Mubarak Zeb Khan
July 04, 2019
With the curtain dropping on the amnesty scheme, about 110,000 people have filed tax returns declaring their assets and deposited about Rs55 billion in taxes till July 3, Dawn has learnt through knowledgeable sources. — AFP/File
ISLAMABAD: With the curtain dropping on the amnesty scheme, about 110,000 people have filed tax returns declaring their assets and deposited about Rs55 billion in taxes till July 3, Dawn has learnt through knowledgeable sources.
Another 21,000 people are set to submit their returns along with declaration forms. The final figures are going to be slightly higher based on the clearance of the system.
Multiple sources in the Federal Board of Revenue (FBR) revealed that the tax amnesty scheme announced by the Pakistan Tehreek-i-Insaf government saw a surge of interest mostly from those people who were non-filers of income tax.
However, the revenue earned from the assets declaration scheme is below expectation.
Properties of Zardari, PML-N senator attached for 90 days under benami law
Under the PML-N government’s last tax amnesty scheme, 83,000 people had availed the scheme and over Rs124bn had been collected.
The latest assets declaration scheme was rolled out on May 14, 2019 and was supposed to end on June 30. However, the government extended the deadline to July 3 to facilitate those people who did not avail the scheme.
Three major outcomes of the assets declaration scheme are that maximum number of people from small cities availed the scheme, mostly those who did not exist on the tax roll.
During the last 10 days, about 100,000 new tax returns were added to the total numbers. As a result, the number of tax returns reached over two million, the highest ever in the country’s history. “Over 90,000 non-filers availed the scheme,” a senior tax officer told Dawn.
Secondly, the amnesty scheme was mostly availed by the people hailing from small cities like Faisalabad, Sialkot, Gujranwala, Abbottabad, etc.
In the last tax amnesty scheme, 60pc people from Karachi and 30pc from Lahore had availed the scheme. Islamabad had been on third position in the list of those availing the scheme. Most of them had been rich people who had declared their massive assets to whiten them.
The third outcome of the latest scheme is that maximum people have deposited their local currency in bank accounts. Similarly, people having foreign currency also deposited it in their banks.
“We will be in a position to actually quantify the cash deposits due to the scheme in the next couple of days,” a senior tax official said.
Implementation of benami law
Under the Benami Act 2017, tax officials in Islamabad have issued six orders for attachment of benami property in the range of 6,000 kanals of land of PML-N Senator Chaudhry Tanveer for 90 days. The case has now been referred to the adjudicating authority.
Similarly in Karachi eight orders were issued for the attachment of property, in Omni Group cases, mainly owned by PPP leader Asif Ali Zardari. The property is attached for 90 days and its fate will be decided by the adjudicating authority.
These properties have been attached in the light of the cases institute d by the National Accountability Bureau.
On July 1, the government established three major zones, Lahore, Karachi and Islamabad, and 11 sub-zones for adjudicating authorities to deal with benami properties as required under the Benami Transactions (Prohibition) Act, 2017.
The government has already established the Adjudicating Authority under the law and it has started functioning from July 1.
Through another notification issued by the FBR, Inland Revenue officers have been posted in the benami zones established under Benami Transactions (Prohibition) Act-2017. The benami zones have already started implementing the benami law. Under the instructions of the FBR chairman, action against benami properties has already been initiated.
The FBR will seize the assets of any citizen who has failed to declare them under the government’s assets declaration scheme from now on, after the expiry of the declaration scheme.
Published in Dawn, July 4th, 2019
The last amnesty scheme introduced during the PML-N regime had got Rs124.8 billion in taxes for whitening of Rs2.5 trillion black assets and income in 2018. Out of total Rs124.8 billion, the FBR had collected Rs90 billion in June 2018 while the remaining amount of about Rs 35 billion was collected in July 2018.
The government had received total 82,889 declarations in last tax amnesty scheme for whitening of Rs2,500 billion out of which foreign assets having worth of Rs 1040 billion and domestic assets of Rs1,460 billion were made part of the formal economy of the country. Out of total 82889 declarations, the FBR received 5,929 foreign and 76,960 domestic declarations. The last amnesty scheme had fetched $ 436 million foreign currency.
Mubarak Zeb Khan
July 04, 2019
With the curtain dropping on the amnesty scheme, about 110,000 people have filed tax returns declaring their assets and deposited about Rs55 billion in taxes till July 3, Dawn has learnt through knowledgeable sources. — AFP/File
ISLAMABAD: With the curtain dropping on the amnesty scheme, about 110,000 people have filed tax returns declaring their assets and deposited about Rs55 billion in taxes till July 3, Dawn has learnt through knowledgeable sources.
Another 21,000 people are set to submit their returns along with declaration forms. The final figures are going to be slightly higher based on the clearance of the system.
Multiple sources in the Federal Board of Revenue (FBR) revealed that the tax amnesty scheme announced by the Pakistan Tehreek-i-Insaf government saw a surge of interest mostly from those people who were non-filers of income tax.
However, the revenue earned from the assets declaration scheme is below expectation.
Properties of Zardari, PML-N senator attached for 90 days under benami law
Under the PML-N government’s last tax amnesty scheme, 83,000 people had availed the scheme and over Rs124bn had been collected.
The latest assets declaration scheme was rolled out on May 14, 2019 and was supposed to end on June 30. However, the government extended the deadline to July 3 to facilitate those people who did not avail the scheme.
Three major outcomes of the assets declaration scheme are that maximum number of people from small cities availed the scheme, mostly those who did not exist on the tax roll.
During the last 10 days, about 100,000 new tax returns were added to the total numbers. As a result, the number of tax returns reached over two million, the highest ever in the country’s history. “Over 90,000 non-filers availed the scheme,” a senior tax officer told Dawn.
Secondly, the amnesty scheme was mostly availed by the people hailing from small cities like Faisalabad, Sialkot, Gujranwala, Abbottabad, etc.
In the last tax amnesty scheme, 60pc people from Karachi and 30pc from Lahore had availed the scheme. Islamabad had been on third position in the list of those availing the scheme. Most of them had been rich people who had declared their massive assets to whiten them.
The third outcome of the latest scheme is that maximum people have deposited their local currency in bank accounts. Similarly, people having foreign currency also deposited it in their banks.
“We will be in a position to actually quantify the cash deposits due to the scheme in the next couple of days,” a senior tax official said.
Implementation of benami law
Under the Benami Act 2017, tax officials in Islamabad have issued six orders for attachment of benami property in the range of 6,000 kanals of land of PML-N Senator Chaudhry Tanveer for 90 days. The case has now been referred to the adjudicating authority.
Similarly in Karachi eight orders were issued for the attachment of property, in Omni Group cases, mainly owned by PPP leader Asif Ali Zardari. The property is attached for 90 days and its fate will be decided by the adjudicating authority.
These properties have been attached in the light of the cases institute d by the National Accountability Bureau.
On July 1, the government established three major zones, Lahore, Karachi and Islamabad, and 11 sub-zones for adjudicating authorities to deal with benami properties as required under the Benami Transactions (Prohibition) Act, 2017.
The government has already established the Adjudicating Authority under the law and it has started functioning from July 1.
Through another notification issued by the FBR, Inland Revenue officers have been posted in the benami zones established under Benami Transactions (Prohibition) Act-2017. The benami zones have already started implementing the benami law. Under the instructions of the FBR chairman, action against benami properties has already been initiated.
The FBR will seize the assets of any citizen who has failed to declare them under the government’s assets declaration scheme from now on, after the expiry of the declaration scheme.
Published in Dawn, July 4th, 2019
The last amnesty scheme introduced during the PML-N regime had got Rs124.8 billion in taxes for whitening of Rs2.5 trillion black assets and income in 2018. Out of total Rs124.8 billion, the FBR had collected Rs90 billion in June 2018 while the remaining amount of about Rs 35 billion was collected in July 2018.
The government had received total 82,889 declarations in last tax amnesty scheme for whitening of Rs2,500 billion out of which foreign assets having worth of Rs 1040 billion and domestic assets of Rs1,460 billion were made part of the formal economy of the country. Out of total 82889 declarations, the FBR received 5,929 foreign and 76,960 domestic declarations. The last amnesty scheme had fetched $ 436 million foreign currency.
Abdussamad
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- Feb 21, 2009
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past articles on the subject. which part are you confused about?
If that was really the case they would not be charging people any tax to whiten their assets. It's just more bullshit from PTI.
PML-N got 124bn from its amnesty scheme so it's not hard to believe that the PTI targetted 200bn.
ps3linux
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Govt wanted to attract about 100,000 people about a trillion rupees with foreign asset declaration tax ranging between 1.5% to 6% AFAIK govt wanted to have tax collection in the range of 70 odd billion, total number has gone up to 150k, 60 odd billion is already in Govt Kitty with extension in filing dates, expectations of gold declaration and crack down on political figures like Ch Tanveer and Omni Group and 48 more people, people in my line of business are expecting large inflows in terms of tax collection, coupled with ADO of last year 4 trillion plus assets have been declared, 200 billion plus tax collection so far, continuing yearly tax on declared assets, we are moving in the right direction.
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Jango
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The same articles that said only 300 people applied?
YOu are on the right track buddy. Keep going.
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