Islamabad: The tax amnesty scheme introduced to declare foreign and domestic assets cannot be revoked by the government coming next in power, a news source quoted the Federal Board of Revenue Chairman Tariq Pasha. With the first declaration announced on April 15, the public trust on the scheme should grow; Pasha attributed this scheme as the last chance for people to declare their foreign assets.
Talking to representatives from the trade and business sector, Pasha said that people holding undeclared foreign assets are prone to getting caught by the respective tax authorities of the country they own the assets in, where they will not only be penalised, but will face repercussions as serious as imprisonment and surrendering their assets.
Talking about the role of tax-collecting authorities, Pasha mentioned that the departments here need to stay firm, as keeping hidden offshore assets is becoming increasingly difficult all around the globe.
He also mentioned that the scheme will bring money stacked offshore back to Pakistan and help the local economy grow. Pasha also directed the authorities concerned to launch effective marketing campaigns for people to avail the scheme.
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