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President Alvi Signs Ordinance Approving ‘Assets Declaration Scheme’

President Alvi Signs Ordinance Approving ‘Assets Declaration Scheme’
President Alvi Signs Ordinance Approving ‘Assets Declaration Scheme’

President Arif Alvi on Wednesday (May 15) signed off on the ordinance confirming the extension in the tax amnesty scheme.

PTI government, in a session of the federal cabinet chaired by the Prime Minister in Islamabad on Tuesday (May 14) approved a tax amnesty scheme and gave a golden chance to all citizens of Pakistan to declare previously undisclosed assets inside and outside the country by paying just four percent taxes on all assets other than real estate.

Must Read: PTI Government Announces Its First Tax Amnesty Scheme

The Prime Minister’s Adviser on Finance Hafeez Sheikh, while addressing a press conference, said that the objective of the amnesty scheme was not revenue generation but formalisation and documentation of the black economy.

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