Islamabad: The Federal Board of Revenue (FBR) has collected PKR 115 billion in taxes under the Tax Amnesty 2018, a news source reported. The taxes were collected on declaration of foreign and domestic assets. A majority of the declarations have been for domestic assets.
Another PKR 15-20 billion are expected to be collected on the last day of the amnesty scheme, 31st July 2018. The expectation is that FBR will send out notices and take action when the tax amnesty ends. A month’s extension was granted for the Tax Amnesty 2018 for the month of July.
FBR has also warned that information from OECD has become available so action will be taken against overseas Pakistanis with undeclared foreign assets once the amnesty expires.
