ISLAMABAD: The tax amnesty scheme launched in the last days of the outgoingPMLN government could not produce the desired results as expected byeconomic managers.
Tax Amnesty scheme has fetched Rs115 billion so far in the shape ofcollected taxes on declaration of foreign and domestic assets but mostlythe domestic assets were declared and whitened by the taxpayers.
The FBR has estimated that the tax collection through this ongoing taxamnesty scheme might go close to Rs130 billion. The tax amnesty scheme willexpire on Tuesday (today), and the FBR has extended warnings that sternaction was on the cards against those potential evaders who would not comeforward to avail this last golden chance. There was no extraordinaryresponse after the July 25 elections, but it was a normal surge expected inthe last few days ahead of expiry of this scheme.
“We did not notice any unprecedented surge in declaration of assets throughthis amnesty scheme,” said the official. They further said that they wereexpecting R15 billion to Rs20 billion tax collection on the last day ofthis scheme. However, they seemed determined to launch severe actionsagainst evaders after the expiry of this scheme. The extension of one monthgranted in the tax amnesty scheme could not attract Pakistanis livingabroad to avail themselves of this despite warnings by the FBR that theOECD information became available, and the tax authorities will be inposition to launch a stern crackdown on evaders after the expiry of the taxamnesty scheme.
“We possessed good information and intended to move ahead with an iron handagainst potential tax-evaders,” said one top official of the FBR whiletalking to The News here on Monday.
However, the FBR Chairperson Rukhsana Yasmeen has ruled out possibility forgranting an extension in the tax amnesty scheme and asked all potentialnon-filers to avail this opportunity which is going to expire on Tuesday.The incoming government led by the PTI has already extended opposition tothis amnesty scheme, so its chances of any extension are quite bleak.