Islamabad: The Federal Board of Revenue (FBR) on Tuesday notified the deadline for paying taxes under the Assets Declaration Scheme 2019, a news source reported. To this effect, the taxation agency set the deadline for paying outstanding tax amounts under the said scheme till June 30.
The FBR also reminded the taxpayers to pay the default surcharge on the said date. In case the taxpayers fail to pay their dues by the said date, the declarations under the scheme would become void and all tax and surcharge already paid would be non-refundable.
In case of failure to pay outstanding taxes, FBR would also proceed with investigating undisclosed assets, expenditure, and sales, which may lead to taxes and penalties up to 80% of the value of the assets. FBR may also conduct proceedings under various other laws.
