Islamabad: Adviser to the Prime Minister (PM) on Finance Dr Abdul Hafeez Sheikh on Sunday directed the tax officials concerned to come up with a more simplified version of the proposed amnesty scheme, a news source reported.
He expressed his views on the matter during a special meeting held in Islamabad. Finance Secretary Mohammad Younas Dagha, Minister of State for Revenue Hammad Azhar, and Federal Board of Revenue (FBR) Chairman Dr Jehanzeb Khan were all present at the occasion.
Sheikh raised objections over the criterion used for classification of assets and tax rates. He also rejected the six types of tax rates proposed by the FBR for various asset categories.
Furthermore, he directed the federal institution to narrow down tax classifications to only two categories. He said that the purpose of the scheme was to document the economy.
According to sources, the government does not plan to extend the deadline for the asset declaration scheme. It is set to expire on June 30 – ahead of the implementation of the IMF bailout programme.
