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Home / Islamabad / Govt will introduce “Amnesty Scheme” for offshore company holders soon: Mamnoon
Govt will introduce “Amnesty Scheme” for offshore company holders soon: Mamnoon

Govt will introduce “Amnesty Scheme” for offshore company holders soon: Mamnoon

ISLAMABAD: President of Pakistan Mamnoon Hussain has disclosed that the government is bringing an “Amnesty Scheme” for offshore company and foreign countries’ bank account holders. According to the scheme, those Pakistanis, who have deposited their wealth into the Swiss Banks secretly, will also be able to benefit from this scheme.

Although Federal Board of Revenue has not confirmed this news yet President of Pakistan Mamnoon Hussain has done this news on the day of 14th of August by speaking on the occasion of an Air Show at F-9 Park Islamabad. He made it public during his speech that the government is bringing an “Amnesty Scheme” for those Pakistanis who have kept their wealth into other foreign countries and never mentioned it in the tax documents.

He further stated that when the present government took the charge, the tax revenue collection was at Rs1945billion but, after four years, it reached almost Rs3500billion.

According to sources, this is a scheme which will convert black money into white one against the payment of a little amount as compared to present volume of wealth. On the direction of Federal Minister for Finance Senator Ishaq Dar, Federal Board of Revenue has started working on the “Amnesty Scheme” and different proposals are under consideration in this regard.

FBR sources told Customs Today that the FBR cannot announce the Amnesty Scheme unless it is approved by the parliament. After the finalization of the scheme, it will be put before the national assembly and senate for final approval. The government will need political consensus for the approval of the scheme.

Under this scheme, dual nationals and nonresident Pakistanis will not be able to benefit from this scheme.