Karachi: The Federal Board of Revenue (FBR) is expected to collect around USD 700 million under the tax amnesty scheme, with foreign assets to be declared by June 30, according to a news source.
It has been revealed that up to June 23, taxes worth USD 46 million were collected by the FBR against the declaration of foreign assets under the tax amnesty scheme. It expects to receive USD 4 billion by the end of this scheme on June 30, 2018.
Sources in the FBR stated that before the Supreme Court’s clearance, declarations received were no more than one or two a day, but now, more than 40 declarations are being submitted daily. It is being suggested that the due date only be followed or the declaration of assets, and the deadline for the actual payment process should be extended to broaden the tax base.
It has also been suggested that the deadline for the scheme should be extended till July 20, 2018 through a presidential order so that the maximum number of people can avail it.
