ISLAMABAD – The federal government has made a new offer to the individualtax payers.
FBR has offered a chance to individual taxpayers to abolish tax audit casesagainst them in return for 25% additional tax.
Under this unannounced amnesty scheme, hundreds of thousands of salariedpersons who the government had selected for tax audit, got their casessettled without paying any additional taxes, according to the taxauthorities.
The government has also extended the date for submission of revised taxreturns till the end of this year.
The notification informs that the PTI-led government has amended the IncomeTax Ordinance 2001 to increase tax returns from the salaried class.
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With this, a new clause 214E has been added under which the scheme will nowapply to the taxpayers selected for audit under clause 214D of the IncomeTax Ordinance 2001. This section was previously removed from the ordinance.Moreover, those taxpayers who have not been issued notices under section122 of the law will also come under the new tax ordinance.
As per the notification, the taxpayers under the scheme will now submit anadditional 25 per cent of the tax on top of the last tax paid.
Non-filers will have to pay a sum equal to two per cent of their totalturnover. Those who have not declared their turnover will need to pay anadditional Rs 20,000 as a fine.
