Here are all the key details about the new tax amensty scheme 2019.
The draft for new tax amnesty scheme 2019 is currently arranged, as uncovered by sources. Dr Abdul Hafeez Shaikh, the Finance Adviser to Prime Minister, has requested FBR or Federal Board of Revenue authorities to ensure that individuals can undoubtedly comprehend the Asset Declaration Scheme.
According to the draft, a tax rate of 5% will be connected on people announcing their undeclared resources by June 30, 2019; 10% on people proclaiming resources by September 30, 2019; while 20% tax will be connected on people pronouncing resources by December 31, 2019.
The draft additionally proposes amnesty for the land division. It proposes 1% tax on people proclaiming their property by June 30, 2019; 2% on people announcing property by September 30, 2019; and 4% tax on people pronouncing property by December 31, 2019.
The draft contains a proposition to charge 3% tax on already undeclared deals, while the scheme will likewise apply on benami ledgers.