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Tuesday, July 14, 2020

Imran Khan asks citizens to declare assets by June 30

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Review meeting by Pakistan PM after IAF strikes across LoCPakistan Prime Minister Imran Khan on Monday asked citizens to declare their assets by June 30, in a televised address to the nation ahead of the federal budget for fiscal year 2019-20, which is scheduled to be announced on Tuesday.

“I am appealing to all of you to take part in the Asset Declaration Scheme that we have brought, because if we don’t pay taxes, we will not be able to raise our country up,” Dawn news quoted Khan as saying in his address.

The Prime Minister said that people had until the deadline to declare their benami assets, benami bank accounts and money that was kept abroad.

“After June 30, you will not get this opportunity,” he added.

He added that his government has made agreements and were receiving information from abroad about properties and bank accounts of Pakistanis.

“Our agencies have information about who has benami accounts and benami properties… This was never available to us before therefore take advantage of this scheme. Give Pakistan the benefit.”

In May, the Pakistan Tehreek-i-Insaf government had announced the Asset Declaration Scheme — its first tax amnesty scheme — for whitening of undisclosed expenditures, sales and assets, including foreign assets, at nominal tax rates.

The scheme came into effect through a presidential ordinance, which will offer a period of 45 days to people for declaration of their undeclared assets, expenditures, and sales along with payment of taxes until the June 30 deadline.


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