Govt set to offer third tax amnesty scheme, this time to industrialists

[muhammadhafeezmalik]

He said today he made a mistake

PM Imran announces industrial package, says govt will remove all obstacles for SMEs​

It was amnesty in previous governments now it is called as Package, same as bheek from China and Saudi Arabia now it is called a "package".

 

[Norwegian]

It was amnesty in previous governments now it is called as Package, same as bheek from China and Saudi Arabia now it is called a "package".

Same as bheek from China was called "gift" and "investment" by your Mian Mafroor

CPEC a gift from China to Pakistan: PM Nawaz | The Express Tribune

China waited for PML-N rule before making CPEC investment, claims PM Nawaz Sharif

tribune.com.pk

 

[Xone]

If there is nothing wrong in it, why PTI was against this scheme??

PTI can better answer it.
It was their political slogan that took Pakistan to its knees. Evey govt tries to stop corruption and block unfair means. but govt does not malign the wealthy people, how much it may dislike them. Wealth is a blessing for any country but here it was made curse.

 

[muhammadhafeezmalik]

Same as bheek from China was called "gift" and "investment" by your Mian Mafroor

CPEC a gift from China to Pakistan: PM Nawaz | The Express Tribune

China waited for PML-N rule before making CPEC investment, claims PM Nawaz Sharif

tribune.com.pk

This was not budgetary support and it was investment into infrastructure of Pakistan which is attracting billions in investment, creating massive employment in country.
.

CPEC carries no 'hidden' debt: Umar

ISLAMABAD: Federal Planning and Development Minister Asad Umar said that misinformation was spread about the CPEC...

www.brecorder.com

CPEC attracting billions in investment, creating massive employment in country: Asad Umar - China Pakistan Economic Corridor

CPEC attracting billions in investment, creating massive employment in country: Asad Umar

cpecinfo.com

He said today he made a mistake

PM Imran announces industrial package, says govt will remove all obstacles for SMEs​

And you were swearing to us when we were saying it a wrong??

 

[muhammadhafeezmalik]

PTI can better answer it.
It was their political slogan that took Pakistan to its knees. Evey govt tries to stop corruption and block unfair means. but govt does not malign the wealthy people, how much it may dislike them. Wealth is a blessing for any country but here it was made curse.

So you are agreeing that PTI was wrong at that time?? So PTI should not tender an apology to previous government for its continuous rant??

 

[Norwegian]

This was not budgetary support and it was investment into infrastructure of Pakistan which is attracting billions in investment, creating massive employment in country.

This CPEC "investment" such as in IPP projects has up to 20 percent govt guaranteed returns and in dollars. This the main source of growing electricity price and circular debt

So you are agreeing that PTI was wrong at that time?? So PTI should not tender an apology to previous government for its continuous rant??

Should Pmln govt first not tender apology for overvalued exchange rate? Should they not tender apology for almost bankrupting Pakistan in 2018?

 

[AZADPAKISTAN2009]

In case the news is true don't see any major issue with Amnesty Scheme, provided Money is returned back to Pakistani Banks as Investments

• Declare money
• Bring back Money into Pakistan
• Use it to run Business
• Pay 4-5% Tax

 

[ghazi52]

.....

Tax amnesty scheme for industrial sector: Public office-holders, spouses, dependents barred​

The government has decided to offer a 5% across-the-board tax rate and immunity to investors from the investigation about sources of investment​

By Mehtab Haider
March 03, 2022

ISLAMABAD: The Tax Amnesty Scheme for the industrial sector has barred public office-holders, their spouses, and dependent children from availing this scheme.

The President promulgated Income Tax (Amendment) Ordinance 2002 and inserted certain provisions for those who could not avail of this amnesty scheme. It stated that everyone would be eligible to avail this amnesty scheme except (a) holders of public office, their spouses and dependent children; (b) a public company as defined in clause (47) of Section 2 of this ordinance; (c) a person who has filed a declaration under the Voluntary Declaration of Domestic Assets Act, 2018, the Foreign Assets (Declaration and Repatriation) Act, 2018, or the Assets Declaration Act, 2019; (d) a person that has been declared a bank loan defaulter by a bank or a financial institution within the last three years; or (e) a director of a company who has been declared a bank loan defaulter by a bank or a financial institution within the last three years..

​

The provisions of this section shall not apply to — (a) any proceeds of crime, corruption, money laundering and terror financing; (b) any amount which is subject of any departmental or court proceedings; (c) the investments made in following sectors, namely:– (i) arms and ammunitions; (ii) explosives; (iii) sugar; (iv) cigarettes; 8 (v) aerated beverages; (vi) flour mills; (vii) vegetable ghee; and (viii) cooking oil manufacturing excluding extraction units.
The definition of Public Officer Holder as provided in Voluntary Declaration of Domestic Assets Act, 2018 “holder of public office” means a person who is or has been, during the preceding ten years,– (i) the President of the Islamic Republic of Pakistan or the Governor of a Province; (ii) the Prime Minister, Chairman Senate, Speaker of the National Assembly, Deputy Chairman Senate, Deputy Speaker National Assembly, Federal Minister, Minister of State, Attorney General for Pakistan and other Law Officers appointed under the Central Law Officers Ordinance, 1970 (VII of 1970), Adviser or Consultant or Special Assistant to the Prime Minister and holds or has held a post or office with the rank or status of a Federal Minister or Minister of State, Federal Parliamentary Secretary, Member of Parliament, Auditor-General of Pakistan, Political Secretary; (iii) the Chief Minister, Speaker Provincial Assembly, Deputy Speaker Provincial Assembly, Provincial Minister, Adviser or Consultant or Special Assistant to the Chief Minister and who holds or has held a post or office with the rank or status of a Provincial Minister, Provincial Parliamentary Secretary, Member of the Provincial Assembly, Advocate-General for a Province including Additional Advocate-General and Assistant Advocate-General, Political Secretary (iv) the Chief Justice or, as the case may be, a Judge of the Supreme Court, Federal Shariat Court, a High Court or a Judicial Officer whether exercising judicial or other functions or Chairman or member of a Law Commission, Chairman or Member of the Council of Islamic Ideology; (v) holding an office or post in the service of Pakistan or any service in connection with the affairs of the Federation or of a Province or of a local council constituted under any Federal or Provincial law relating to the constitution of local councils, co-operative societies or in the management of corporations, banks, financial institutions, firms, concerns, undertakings or any other institution or organization established, controlled or administered by or under the Federal Government or a Provincial Government or a civilian employee of the Armed Forces of Pakistan: Provided that a member of the Board, not actively engaged in the business and day-today affairs of the said corporations, banks, financial institutions, firms, concerns, undertakings or any other institution or organization shall not be treated as holder of public office under this subclause; (vi)the Chairman or Mayor or Vice Chairman or Deputy Mayor of a zila council, a municipal committee, a municipal corporation or a metropolitan corporation constituted under any Federal or Provincial law relating to local councils..

 

[Samlee]

This Was Going to Attract $5 Billion In Investment But Alas