Islamabad: The upcoming offshore tax amnesty scheme is the final stage of preparation, a news source quoted Special Assistant to Prime Minister on Revenue Senator Haroon Akhtar Khan. Under the proposed scheme, Pakistan could repatriate USD 5 billion.
Speaking about the possibilities of this scheme’s success, Khan said that the offshore amnesty scheme will be successful if Pakistanis bring back USD 4 billion to USD 5 billion during the scheme’s validity period. According to an estimates made by a chartered accountancy firms, the value of offshore assets that belong to Pakistanis amount to USD 130 billion.
Responding to a question, Khan said that it is yet to be decided if the amnesty scheme would be introduced in this budget, which is to be unveiled on April 27 or it would require a separate law to be introduced in the parliament.
He also indicated that in order to ensure secrecy for those who avail the scheme, amendments will be needed in various laws.
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