Pakistan's Federal Board of Revenue (FBR) has collected PKR1.54bn (USD19.5m) from its investment tax amnesty scheme, the board said in a press statement issued last Thursday.
According to the statement, some 10,828 cases seeking to benefit from the scheme were received by December 31, 2008, the last day of the scheme, and were settled with PKR1.54bn being netted in tax.
The scheme was run by the 16 regional tax offices and large taxpayer units of the FBR. The scheme received the most cases, 4,114, from the FBR's Lahore office followed by 1,861 cases from Karachi.
The Investment tax amnesty scheme, which commenced in July 2008, allowed individuals to tell the tax authority about previously undeclared assets without fear of prosecution, but in return for a tax of 2% of the fair market value of their assets.
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment