Federal government makes new offer to individual tax payers
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ISLAMABAD - The federal government has made a new offer to the individual tax payers.
FBR has offered a chance to individual taxpayers to abolish tax audit cases against them in return for 25% additional tax.
Under this unannounced amnesty scheme, hundreds of thousands of salaried persons who the government had selected for tax audit, got their cases settled without paying any additional taxes, according to the tax authorities.
The government has also extended the date for submission of revised tax returns till the end of this year.
The notification informs that the PTI-led government has amended the Income Tax Ordinance 2001 to increase tax returns from the salaried class.
With this, a new clause 214E has been added under which the scheme will now apply to the taxpayers selected for audit under clause 214D of the Income Tax Ordinance 2001. This section was previously removed from the ordinance. Moreover, those taxpayers who have not been issued notices under section 122 of the law will also come under the new tax ordinance.
As per the notification, the taxpayers under the scheme will now submit an additional 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 total turnover. Those who have not declared their turnover will need to pay an additional Rs 20,000 as a fine.
