Prime Minister Imran Khan on Friday again urged citizens to declare their assets under the government’s asset declaration scheme before the June 30 deadline.
“We are stuck in a debt trap,” he said in a televised address to the nation. “Why are we here? Because of corruption and theft of taxes. To end tax theft, I need your help,” he said.
“I have initiated this scheme [under which] you can declare your assets until June 30.”
“This scheme is a golden opportunity for you to declare money, dollars, jewellery, benami accounts and foreign assets that you possess,” he said.
“Until the people do not resolve, along with the government, to extricate itself from these loans, they will not be able to get out if [the debt trap].”
It is not the first time the prime minister has asked citizens to take advantage of the scheme, which is set to expire in nine days.
In his speech, PM Imran praised the generosity of Pakistanis when it comes to making charitable donations to institutions such as Shaukat Khanum Memorial Cancer Hospital and Research Centre, or for gathering funds to provide aid to flood and earthquake-hit areas in Pakistan.
“The Federal Board of Revenue has all the data. If you go to the FBR website, you will find out what data we possess. I don’t want difficulties for you [in the future], that’s why I want you to take advantage of [the scheme],” he said.
On May 14, the PTI-led government had announced its first tax amnesty scheme for whitening of undisclosed expenditures, sales and assets, including foreign assets, at nominal tax rates.
The scheme had come into effect through a presidential ordinance, which offered a period of 45 days to people for declaration of their undeclared assets, expenditures, and sales along with payment of taxes until June 30 this year.
The scheme has five main pillars — scope, default surcharge, exclusions, tax rates and conditions. It can be availed by all companies, associations of persons and individuals only to whiten their assets, expenditures and sales not declared until June 30, 2018. There is no provision for whitening undeclared incomes, either domestic and foreign.
In a video message on May 30, the prime minister had said that the scheme was a “chance for [the people] to declare their benami properties and bank accounts” so they can become a part of the tax net.
He revealed that only 1 per cent of the population pays taxes. “1pc Pakistanis are bearing the burden of 220 million people. This is impossible,” he said. “No country can serve its people if the citizens don’t pay taxes.”
Earlier, a local media outfit’s report had claimed that less than 250 Pakistanis have availed the tax amnesty scheme and paid a paltry sum of about Rs450 million in taxes.
The dismal outcome in the past over one month compelled the Federal Board of Revenue (FBR) to keep the figures away from parliamentarians and the federal cabinet.
The previous tax amnesty scheme, launched by the Pakistan Muslim League-Nawaz (PML-N) government, remained largely successful when over 84,000 people legalised around Rs2.4 trillion in black assets by paying Rs124 billion in taxes.
