The government is considering giving a three to six months extension in Prime Minister Imran Khan’s tax amnesty scheme for the construction sector. The PM’s Office has directed the Federal Board of Revenue to prepare draft of a presidential ordinance to further extend the tax amnesty scheme, sources told The Express Tribune. The prime minister had announced his government’s second tax amnesty scheme, allowing people to invest in the construction sector without disclosing the source of income. Initially, the PTI government limited the scope of its second amnesty scheme to ten months and the deadline is going to expire on Thursday. The IMF had barred Pakistan from giving further tax amnesty scheme during the currency of the IMF programme after the PTI government gave a tax amnesty scheme in May last year to allow people to declare their ill-gotten and black money.

Source: The Express Tribune December 29, 2020 03:22 UTC