Prime Minister Imran Khan will chair a meeting of the federal cabinet at the Prime Minister office today (May 14) to discuss overall political and economic situation of the country.
The cabinet will also deliberate upon the proposed tax amnesty scheme. However, final announcement regarding Tax Amnesty Scheme will be made afterwards. Sources said that the Scheme can be brought under presidential ordinance.
It is also expected to discuss the six billion dollars package finalized with International Monetary Fund, monthly inflation rate and price control measures for essential commodities and steps taken for improvements in the educational system of the country.
The scheme will cover declaration of undisclosed assets, benami assets, sales and incomes on or before June 30, 2018 with tax rates ranging from 5-10pc with certain exceptions but assets would be valued at prescribed rates. “Foreign assets will be converted into money and remitted to rupee accounts in Pakistani banks or deposited into declarants’ own foreign currency bank accounts in Pakistan”. In the previous schemes, the foreign assets were not required to be transferred to Pakistan.
