Islamabad: After receiving a go ahead from Supreme Court (SC) of Pakistan, the tax amnesty scheme may break success record among similar schemes introduce in the past, reported a news source. If that happens, this scheme can bring back a large amount foreign assets and revenue.
The news report has also revealed that the scheme hasn’t been availed by anyone so far due to the confusions that existed on its validity under the suo moto case judgment of the SC.
The tax amnesty scheme was formed on proposals formed by State Bank of Pakistan (SBP) committee, which was headed by the SBP governor. Presented as rare chance for people to declare their offshore assets, the scheme is primarily meant to benefit the national exchequer. The committee also proposed that while helping the government find offshore assets, the Organisation for Economic Corporation and Development employees means to convince people to declare their assets and bring the revenue back home.
The final scheme was formed after thorough consultation with experts including Syed Mubashir Zaidi, Mehmood Mandiwala, Bashir Ali Muhammad, Syed Mazhar Ali Nasir, Ali Zafar, Siraj Qasim, Malik Tahir Javaid, Masood-ul-Hassan Naqwi, Asim Zulfiqar, Ashfaq Tola, Rashi Ibrahim, Abdul Basit and Arif Habib.
