ISLAMABAD: The recently announced tax amnesty scheme may fail to achievedesired results due to shortcomings in its design, said former ICCIpresident Shahid Rasheed Butt on Sunday.
“The scheme is full of mistakes and contradictions while it has someweaknesses which are keeping tax consultants and businessmen at adistance,” he said.
Talking to the business community, he said that the outcome of the amnestyscheme announced by the current government will not be different from theschemes announced earlier by various governments.
Shahid Rasheed Butt who has also served as President Islamabad Chamber ofCommerce and Industry (ICCI) and Patron Islamabad Chamber of Small Traders(ICST) noted that tax amnesty schemes have not added to the revenue in asatisfactory way nor have these schemes improved documentation of theeconomy.
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The purpose of such schemes is to give a chance to tax evaders to whitentheir money and join the taxpayers club but the majority of the tax evadershave preferred to remain out of the tax net because they consider it safe.
He said that amnesty schemes will remain counterproductive unless taxevaders believe that not availing the opportunity will result in severepunishment and confiscation of assets.
