Challenges faced and follow-up requiredWith the deadline for declaring undisclosed assets, sales and expenditures under the Asset Declaration Ordinance 2019 (commonly referred to as Tax Amnesty scheme) being over, it’s time to analyze the results, experiences during the process and the follow-up required. The initial response, just like to the 2018 Tax Amnesty scheme, was lukewarm, perhaps owing to both the lack of clarity and the Ramadan and Eid festivities. The promised enforcement action coupled with structural reforms to eliminate taxpayers’ harassment and to rationalize the tax system should be undertaken. At the time of publication, 137,000 people had availed the scheme compared to 84,000 over a much larger duration in the 2018 amnesty scheme. The promised enforcement action coupled with structural reforms to eliminate taxpayers’ harassment and to rationalize the tax system should be undertaken.

Source: Pakistan Today July 05, 2019 16:30 UTC