The scheme, which will be introduced through a presidential ordinance, will reportedly remain in force for a period of 45 days. The federal cabinet is expected to discuss the initiative in its meeting today.
According to officials, the government hopes to generate additional revenue worth PKR 250 billion through the introduction of this latest amnesty initiative. In comparison, the previous government had generated PKR 150 billion through a similar scheme officiated during its tenure.
The said officials further stated that individuals possessing undocumented accounts or assets will be given an opportunity to legalise their undeclared holdings by paying 10% of their value as tax under the new offer.
All companies and individuals – except government officials serving since January 2000 – will be eligible to benefit from the scheme, which will reportedly expire on June 30.
