President Arif Alvi signs tax amnesty scheme ordinance

President Alvi signs Finance Bill 2019-20

ISLAMABAD: President Arif Alvi on Wednesday signed the ordinance for issuing the tax amnesty scheme.
A day earlier, the federal cabinet had approved the amnesty scheme . The tax amnesty scheme allows citizens to declare previously undisclosed assets in a bid to identify high earners for more efficient tax collection.
According to Adviser to PM on Finance Abdul Hafeez Sheikh, every Pakistani citizen — except for public office holders and their dependents — could avail this scheme to declare all previously undisclosed assets either abroad or in Pakistan.
Announcing the particulars, he said that citizens could use the scheme to whiten previously undeclared assets abroad by paying a 4 per cent tax.


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