ISLAMABAD: Finance Minister Asad Umar on Wednesday said that if the government introduces any tax amnesty scheme then it will not applicable for public office holders.
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ECC approves import of 100,000 tons of urea
ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Wednesday approved immediate import of 100,000 tons of urea to facilitate farmers.
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Another tax amnesty scheme amid claims to bring back looted money
ISLAMABAD: The tall claims of present ruling party for bringing back looted money into the kitty are fading away as the PTI government is introducing a tax amnesty for looter and plunderers.
Finance Minister Asad Umar on Tuesday confirmed that the PTI government is going to announce new tax amnesty for undeclared foreign and domestic assets.
Media reports quoting Umar said that business community was demanding the government to introduce such scheme.
During the last government of PML-N an amnesty was introduced for undeclared foreign and domestic assets, which was remained available for two months i.e. June and July 2018. This amnesty resulted in tax money of Rs120 billion.
At that time it was said by the then government that the business community had demanded the amnesty for the last time.
The PTI government which had come into the power with pledges to bring back looted money is taking U-turn in this matter as Asad Umar defended the tax evaders that should they declare their money in jail.
Asad Umar said that the government was planning to introduce the amnesty scheme before the budget, which was scheduled next month.
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Asad Umar meets IMF mission chief
ISLAMABAD: Finance Minister of Pakistan Asad Umar met the IMF Mission Chief Ernesto Ramirez Rigo in Islamabad, on Tuesday.
The minister and the Mission Chief discussed all issues including fiscal, monetary, structural reforms and energy sector, a statement said.
Asad Umar briefed Ramirez Rigo about the steps taken by the government for improving the economy of the country.
The minister informed that the structural reforms and other economic initiatives introduced by the government were yielding desired results.
The minister said that the government would continue to address the macroeconomic imbalances and would take necessary corrective measures in this regard.
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Asad Umar reviews revenue collection, broadening of tax base
KARACHI: Finance Minister Asad Umar on Monday reviewed the revenue collection progress and ongoing drive of broadening of tax base at a meeting with senior officials of Federal Board of Revenue (FBR).
The meeting was attended by Member Inland Revenue Operations Ms. Seema Shakil, Member Customs Operations Agha Jawad, Chief Commissioners Inland Revenue and Chief Collectors of Pakistan Customs.
Ms. Seema Shakil updated the finance minister about revenue collection and performance of Inland Revenue besides giving details of ongoing campaign for broadening of tax base.
She apprised the finance minister about the difficulties in the way of taking harsh action against tax evaders.
The sources said that the finance minister issued directives for taking harsh measures against tax evaders including high profile cases.
He also assured all logistic support to FBR officials in taking actions against influential persons.
Member Customs Operations Agha Jawad also briefed the finance minister about the working of customs clearance. The member said that transparency had been ensured in the clearance process in order to facilitate genuine taxpayers.
The member pointed out high volume of smuggled betel nut.
The finance minister directed to evolve a tariff mechanism for betel nut.
The finance minister directed both the wings of FBR to ensure facilitation of taxpayers and focus on tax evaders. -
New tax amnesty scheme to be considered: Asad Umar
Finance Minister Asad Umar announced on Saturday that the government is contemplating the implementation of a new tax amnesty scheme, driven by proposals received from the business community.
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Non-filers allowed locally assembled motor vehicle of any engine capacity
ISLAMABAD: The federal government has allowed non-filers of income tax returns to purchase of locally assembled motor vehicles of any engine capacity.
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Steps afoot to rationalize tax regime: Asad Umar
Finance Minister Asad Umar reiterated the government’s commitment to fostering a more supportive environment for taxpayers on Tuesday, announcing steps toward the rationalization of the tax regime.
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Income tax returns, sales tax procedure to be simplified: Asad Umar
KARACHI: Finance Minister Asad Umar has expressed his resolve to simplify income tax return forms and sales tax procedure to facilitate business community.
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Finance Minister Asad Umar Unveils Economic Reform Package to Boost Investment and Exports
On Wednesday, Finance Minister Asad Umar took the floor of the house to present a comprehensive economic reform package aimed at promoting investment and exports in Pakistan.
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