PML-N slams PTI govt’s U-turn on tax amnesty schemeSources in the FBR said the judiciary must be taken into confidence for the success of the scheme. The Pakistan Muslim League-Nawaz’s (PML-N) government’s last comprehensive offshore and domestic assets tax amnesty scheme faced headwinds at the start because of a case in the Supreme Court. For Benami credit entries, the FBR has recommended a 2% rate of the total credit entries from January 2017 to April 2019 or 10% of the peak credit entries. The sources said unlike the last tax amnesty scheme, the filing of income tax returns or the revision of the last tax return would be mandatory. Last amnesty schemeAround 6,195 individuals had availed the offshore tax amnesty scheme launched by former prime minister Shahid Khaqan Abbasi in 2018.

Source: The Express Tribune April 08, 2019 03:13 UTC