ISLAMABAD: In a major relief, Federal Board of Revenue (FBR) has granted a one-time opportunity to those people who have paid their tax under the Assets Declaration Ordinance 2019 but could not file their declarations due to any reason.
The Assets Declaration Ordinance 2019 was promulgated on May 14, 2019 for the payment of tax and declaration of corresponding assets by June 30, 2019. Earlier, the due date was extended till July 3, 2019.
In order to facilitate the people, the FBR has decided to allow filing of declarations for all those citizen taxpayers/persons who deposited the tax under the ordinance within the due date i.e. July 3, 2019, but could not file their declarations due to any reason.
A system has been enabled for this purpose and all taxpayers can now file their declarations from September 10 till September 25. This is a special dispensation granted under Section 7 of the Federal Board of Revenue Act, 2007.
No fresh tax amnesty
Earlier, on June 23, the Federal Board of Revenue (FBR) had categorically denied it will provide any new amnesty scheme to construction contractors, saying that the government cannot forego collection of Rs200 billion.
It was proposed to slash the withholding tax on contractors from 7.5% to 1% during a meeting of the Senate Standing Committee on Finance. Another proposal, suggesting that a general amnesty scheme should be provided to the construction sector, was also put forward.