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Pakistan's Tax Amnesty Proposal Blocked

by Mary Swire, Tax-News.com, Hong Kong

06 January 2016


Pakistan's Government announced a proposal for a new tax amnesty scheme on January 1, 2016, but the proposal was quickly shut down by opposition lawmakers.

According to the Government, the scheme was intended to act as a catalyst in promoting a culture of tax compliance, broadening the tax net, and encouraging traders and the business community to declare their income and pay their taxes voluntarily.

However opposition lawmakers rejected the proposal on the grounds that a number of largely unsuccessful amnesties have been offered by the Government in recent years.

The International Monetary Fund has persistently recommended that Pakistan improve its tax enforcement efforts and avoid amnesties that might undermine efforts to encourage taxpayers to begin complying with the tax code.

TAGS: money-laundering | Pakistan | compliance | tax | investment | business | tax compliance | tax incentives | law | enforcement | tax authority | tax reform | regulation | trade

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