ISLAMABAD: Adviser to Prime Minister on Finance, Revenue and Economic Affairs Dr Abdul Hafeez Shaikh said on Tuesday that the federal cabinet has approved a scheme of assets’ declaration in a move to bring betterment in the national economy.
Hafeez Shaikh, while addressing a press conference after the federal cabinet meeting, announced that the federal government has aimed to launch this scheme not to collect money but to generate revenue to activate national economy.
“It is decided that the assets which were not disclosed should be brought forward,” the adviser said.
“The [process of] scheme is very easy, which will not create any difficulties for the people. This scheme is not meant to threaten people but to do business. Every citizen can get the benefit of the scheme till June 30,” he said.
“Neither the individual, who are currently possessing a public portfolio or assumed charge of any public position, will not become part of the scheme nor their family members,”
“Declared assets will be brought to Pakistan while it can be submitted into banks. Those people not willing to bring assets back to Pakistan will have to pay 6 per cent tax.”
The finance adviser added, “The scheme can also be used for properties and benami accounts.”
The finance adviser added, “The scheme can also be used for properties and benami accounts. The money kept abroad could be turned white by paying 4 per cent tax. It is the last chance for benami account holders as strict action will be taken in future.”
More to follow …………………..
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