ISLAMABAD- *Prime Minister Shahid Khaqan Abbasi will address an importantpress conference *today. PM Abbasi will hold the press conference at 6pmthis evening at Prime Minister House with 11 points agenda.
1. Foreign assets which will not be brought to Pakistan can be declared atapproximately 5%
2. Foreign assets which will be brought back can be declared at lower rates
3. Forex accounts within Pakistan will become visible to FBR
4. No one without NTN can open forex account.
5. Anyone receiving remittance over 100K$ in a year shall have to explainsource etc.
6. All property transfers from July 1, 2018 shall not have value based onDC rate or FBR rate and anyone can declare whatever value they want attransfer however within 6 months of transfer FBR can take over the asset at100% above transfer value in 2018-19 and at 75% above transfer value in2019-20 and at 50% above transfer value in 2020-21 and at 50% abovetransfer value thereafter.
7. Cars imports shall not require gift scheme and anyone to be able toimport with proper bank transfer.
8. All entities that have ongoing audit notices shall be able to pay 10% ofthe audit demand and clear all audits for past.
9. All entities that have been issued tax notices for past years withdemands other than proper audit notices shall be able to pay 5% of thedemand and clear.
10. Immovable and movable Assets within Pakistan hidden from taxauthorities can be declared at 5% tax.
11. Cash declared within Pakistan shall have to be deposited to bank fordeclaration with 5% tax payment.