Tax Amnesty Scheme 2018, Pakistan
There are 2 separate laws.
- Local assets
- Foreign assets
Local Assets
Government officers are not entitled
Assets against which any legal proceedings are pending are not eligible
Crime money also not included
Amnesty will end on 13th June 2018
Rates are 2 and 5%.
2% on foreign currency in account on 31 March 2018 and encashed in rupees etc.
5% on all other assets
If the declaration is not based on facts, then the application will be void.
Form A should be filed for declaration
Foreign Assets
Government officers are not entitled
Assets against which any legal proceedings are pending are not eligible
Crime money also not included
Amnesty will end on 13th June 2018
Assets will be valued on fair market value
Rates are 2, 3 and 5%.
Liquid assets 5% (not repatriated)
Immovable assets 3% out of Pakistan
Liquid assets repatriated and invested in government securities
Liquid assets 2% if repatriated
Payable tax will be calculated in USD
State bank dollar rate will be applied on valuation date
If the declaration is not based on facts, then the application will be void.
Form A should be filed for declaration
