CJP hints at reviewing government's tax amnesty scheme
Last week, PM Abbasi unveiled a tax reforms package, which included a tax amnesty scheme for undeclared foreign and domestic assets, and reduction in income tax rates
April 12, 2018
ISLAMABAD: Chief Justice of Pakistan Justice Saqib Nisar has hinted at reviewing the government’s latest tax amnesty scheme.
Hearing a case related to the ownership of state land, Chief Justice Nisar remarked that that Supreme Court will take stern action against individuals who have parked assets abroad and maintain foreign bank accounts.
During the hearing, he also observed that the court will examine the government’s recent amnesty scheme, adding that they will not let state assets be given away like this.
The chief justice also directed to fix for hearing soon the case related to the assets and accounts of Pakistanis in foreign countries.
Prime Minister Shahid Khaqan Abbasi had unveiled a five-point tax reforms package on Thursday, which included a tax amnesty scheme for undeclared foreign and domestic assets, and reduction in income tax rates.
The prime minister launched the amnesty scheme and reforms package in a last-ditch attempt at broadening the government's revenue base, merely 55 days before the end of the government's tenure.
Moody's, the international credit rating agency, said in a statement today that Pakistan’s tax-amnesty scheme, if successful, would increase the government’s revenue base.
