How to File Tax Declarations Under Tax Amnesty Scheme 2019
May 14, 2019
Tax Amnesty Scheme for Non-residents
May 24, 2019

Rates of Tax Amnesty Scheme 2019

The Tax Amnesty Scheme 2019 approved on 14 May 2019 by the Prime Minister Imran Khan chairing the Federal Cabinet meeting. The rates of Tax Amnesty Scheme 2019 are as below: –

According to sources, the amnesty scheme recommends the following:

Our Tax Amnesty Filing services are carried out by professionals and experts in Income Tax.

Tax rates and value for assets by FBR

Class of assets/ Income Value Rate of Tax
Domestic  Immovable  Properties – Land Not less than 150% of value prescribed by  the FBR under section 68 of ITO or 150% of DC value, whichever is higher 1.5%
Domestic  Immovable  Properties – Constructed Not less than 150% DC value where FBR value has not been notified for constructed property 1.5%
Foreign Liquid Assets not repatriated Not less than Fair Market Value or cost, whichever is higher, translated at exchange rates prevalent at date of declaration. 6%
Foreign Liquid Assets Repatriated Not less than Fair Market Value or cost, whichever is higher, translated at exchange rates prevalent at date of declaration. 4%
Unexplained Expenditure Not less than Fair Market Value or cost, whichever is higher 4%
Undisclosed Sales Not less than Fair Market Value or cost, whichever is higher 2%
All assets except domestic immovable properties Not less than Fair Market Value or cost, whichever is higher 4%

Default Surcharge

Time of payment of tax Default surcharge rate in addition to tax
01st July 2019 to 30th September, 2019 10% of tax amount
01st October 2019 to 31st December, 2019 20% of tax amount
01st January 2020 to 31st March, 20120 30% of tax amount
01st April 2020 to 30th June, 2020 40% of tax amount

Call our experts today for Tax Amnesty Scheme Filing Services in Lahore, Pakistan at affordable rates.

 

Waheed Ensari
Waheed Ensari
Waheed focuses on modern techniques in order to management of businesses through finances, learning & development, IT.Its his appetite which draws his attention & energy in helping people (business owners/entrepreneurs) – to get the crystal aspects of the business.

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