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PM announces tax amnesty scheme

PM announces tax amnesty scheme

ISLAMABAD: Prime Minister Shahid Khaqan Abbasi on Thursday while announcing an amnesty scheme for the non-taxpayers said that the politians could not take advantage of the scheme.

Addressing a news conference in Islamabad on Thursday, he said that paying tax was the duty of every citizen and not paying taxes a crime.

The prime minister said that only 700,000 have been paying income tax in Pakistan, adding that every Pakistani ought to pay income tax.

“The maximum rate of income tax was being reduced from the existing 30% to 15%, Abbasi said and added annual income of upto Rs1.2 million would be exempted from the income tax.

“An individual earning more than Rs4.8 million per annum will pay 15 percent tax,” he said, adding that the rate of income tax for the income bracket of 2.4 to 4.8 million rupees would be 10 percent.

Abbasi went on to say that the amnesty scheme was being introduced to widen the tax net, adding that the state-of-the-art technology will be used to collect the tax. 

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