*ISLAMABAD – Prime Minister Imran Khan will get briefing on new tax amnestyscheme of the Pakistan Tehreek-e-Insaf (PTI) led government on Monday.*
According to the sources, the prime minister will chair a meeting inIslamabad to get briefing on the scheme finalised to provide people withthe means to legitimise all kinds of *offshore and onshore undeclaredassets* at the rates of *more than fice per cent*.
Meanwhile, Finance Minister Asad Umar and the Federal Board of Revenueofficials will brief the premier. It was also reported that the approval ofdraft for IMF scheme will also be taken from the prime minister.
The scheme is expected to be tabled in the meeting of the federal cabinettomorrow.
Under the proposed scheme, the government will offer three slabs fordeclaring all kinds of assets, both offshore and onshore. According to thescheme, after revealing illegal assets, the tax returns must have to besubmitted.
It also said that the punishment of imprison and heavy fines will beimplemented if fake details submitted in the returns. However, thecrackdown will be launched who were not benefitted by the amnesty scheme.
The sources revealed that the amnesty scheme will be brought before *April20*.
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The new tax amnesty scheme also coincides with a new global anti-taxevasion scheme that is operational under a multilateral tax convention onthe avoidance of double taxation and recommendations of Financial ActionTask Force (FATF).
The proposed slabs were 5pc, 7.5pc and 10pc for whitening of the assetsthough they could be changed before cabinet approval, the source said.
Moreover, the rates will also vary in cases of repatriation of assets toPakistan and in cases of non-repatriation of foreign assets. However, it isnot yet clear whether the government would link the scheme with therepatriation of wealth.
