Abb Takk News

Deadline For Tax Amnesty Will Not Be Extended: Shamshad

Karachi (June 19, 2018): Caretaker Minister for Finance, Revenue and Economic Affairs Dr Shamshad Akhtar said on Monday that the deadline for the tax amnesty scheme under the Foreign Assets (Declaration and Repatriation) Ordinance, would not be beyond the June 30 deadline.

She said this on her visit to the Pakistan Stock Exchange (PSX), where she met with representatives of the PSX Board, its management and senior market participants. The participants of the meeting discussed various issues related to capital market development and the tax amnesty scheme announced by the former government, only 55 days before its tenure ended.Dr Akhtar directed the PSX to form a committee to propose a five-year roadmap for the development of Pakistan’s capital market.

She also discussed the tax amnesty scheme announced by the government and informed the participants that scope of the scheme could not be extended beyond the June 30 deadline.

She added that they should work diligently to maximise the amount of assets submitted under the scheme.After giving a briefing about the role of the PSX, its CEO Richard Morin said the PSX played a central role in capital formation, without which there could be no sustainable economic growth in the country.

He added that the PSX and the government shared the mission to work for the betterment of the people of the country, and to ensure that Pakistan assumed its rightful place among the world’s most important economies.

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