Amnesty Scheme being launched for legalising offshore companies assets

Amnesty Scheme being launched for legalising offshore companies assets

Federal government is launching another amnesty scheme for enabling the offshore companies to whiten their black money running into trillion of rupees by paying 5 percent tax.

“The scheme is going to be launched despite the fact government has already held out assurance in writing to International Monetary Fund (IMF) that it will no more launch any amnesty scheme”, reported Online on Saturday.

FBR has evolved preliminary sketch of this scheme. This scheme is proposed to be announced for once and for six months.

As per proposed amnesty scheme, 5 percent tax will be levied if the money is brought to Pakistan within the first 2 months, 7.50 percent tax will be charged if the money is transferred to Pakistan within the next two months and 10 percent tax will be collected if the money is transferred in the last two months of this scheme.