The PTI government has limited the scope of its second amnesty scheme in ten months to only wealthy this time. The tax amnesty has been given as part of the Prime Minister Package to lessen impacts of infectious novel coronavirus outbreak on the construction sector. The tax amnesty scheme will be implemented by promulgating a Presidential Ordinance. The FBR was resisting the idea of giving tax amnesty scheme and charge the construction sector at fixed income tax rates – two concessions that will further distort Pakistan’s highly distorted taxation regime. The IMF had barred Pakistan from giving further tax amnesty scheme during the currency of the IMF programme after the PTI government gave a tax amnesty scheme in May last year to allow people to declare their ill-gotten and black money.

Source: The Express Tribune April 04, 2020 04:07 UTC