ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday issued Urdu version of presidential ordinance for Tax Amnesty Scheme – 2019.
The FBR said that the Urdu translated version had been issued for the facilitation of people to understand the scheme and participate/avail proactively.
However, the FBR said that the translated version can not be referred anywhere and English version will be treated as authentic document.
The Tax Amnesty Scheme – 2019 was introduced by the government to encourage individuals and businesses to declare undeclared assets and income by paying a nominal tax. Through the Urdu translation, the FBR aimed to improve public understanding of the legal provisions and procedures of the scheme, particularly for people more comfortable with the national language. Officials believed that wider awareness could help increase participation and broaden the tax base.
The scheme covered domestic and foreign assets, benami properties, cash holdings, and undeclared expenditures under specified tax rates. The FBR had also established facilitation centers and online resources to assist taxpayers in filing declarations under the scheme. Economic experts viewed the initiative as an important step toward documentation of the economy and strengthening revenue generation. The government had expressed hope that the amnesty scheme would help attract untaxed wealth into the formal financial system.
