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Govt to take action against elements hiding their assets: Hammad Azhar

Govt to take action against elements hiding their assets: Hammad Azhar

ISLAMABAD: The government would take action against those elements hiding their assets or accounts and avoiding taxes.

The government was giving last opportunity to people to come forward and benefit from the tax amnesty scheme by declaring their unknown assets, said Minister of State for Revenue Hammad Azhar while talking to media.

We have collected data of around 162,000 offshore account holders, he said adding if these account holders did not avail benefit from tax amnesty scheme then their undeclared assets or money would be confiscated. Such account holders would also face seven year imprisonment.

The government wanted to take the GDP ratio to 4 percent in the next fiscal year and for this, the department concerned would have to collect the tax money, he added.

In reply to a question Hammad Azhar warned that if anyone tried to hide their assets or accounts, the government machinery will go behind such elements. He urged the non-tax payers to enjoy the scheme