Islamabad: Avail the final chance, an FBR publication on the Tax Amnesty Scheme 2018 has warned. The scheme is set to expire on 31st July, 2018. Anyone can avail it on undeclared income and assets within and outside Pakistan through the payment of nominal taxes ranging between 2% and 5%.
This publication explains that once the Tax Amnesty Scheme 2018 expires, tax evaders will be investigated domestically and internationally under international agreements. After the expiration, foreign income and assets will result in greater penalties and action against the evaders.
The Tax Amnesty 2018 was legalised by the parliament under Foreign Assets (Declaration & Repatriation) Act 2018, and Voluntary Declaration of Domestic Assets Act 2018.
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