KARACHI: Federal Board of Revenue (FBR) on Wednesday directed beneficiaries of Asset Declaration Scheme 2019 to pay their due taxes by June 30, ARY NEWS reported.
The FBR said that those who have declared their assets under the scheme should pay their due taxes by June 30.
“They should pay their due taxes and fine imposed on the assets,” the tax body said while warning that in case of non-compliance, the assets would not be considered declared.
The tax body would also not refund the fine paid to them for revealing the assets.
It further said that action would be taken against such undeclared assets over non-payment while a fine and taxes of upto 80 percent of the property’s value would also be imposed in case of non-payment of due taxes.
The FBR said that the deadline for clearing dues is set at June 30 and would not be extended.
Read More: Rs70bn revenue collected by Asset Declaration Scheme: FBR
It is pertinent to mention here that as many as 1,24,587 people availed the Assets Declaration Scheme launched by the incumbent last year, Minister of State for Parliamentary Affairs Ali Muhammad Khan informed the National Assembly on Thursday.
He told the house that over sixty-two billion rupees were recovered under this Assets Declaration Scheme.
The minister said the federal government has allocated a sum of 152 billion rupees for the development of tribal districts during this fiscal year.
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