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SRO for investment-cum-amnesty scheme approved

SRO for investment-cum-amnesty scheme approved

ISLAMABAD: Ministry of Finance has approved the Statutory Regulatory Order (SRO) covering investment scheme for new investors and immunity from audit to dormant and new taxpayers.

Sources said that Federal Board of Revenue has received the approved SRO regarding new investment scheme announced by the Prime Minister.

The notification would be sent to Law and Justice Division for vetting. The SRO would be immediately issued following clearance from the Law Division. The draft of the SRO covers three major clauses i.e. details of the investment scheme; concessions; and relaxations for the dormant taxpayers and new taxpayers, who wanted to file their income tax returns, sources added.

The government has decided to extend the date for non-filers of tax returns and dormant NTN holders till February 28, 2014 whereas for investment schemes commercial operation date has been fixed on or before June 2016.