FBR refuses to extend Amnesty Scheme

ISLAMABAD: The Federal Board of Revenue (FBR) categorically refused to extend the Amnesty Scheme which became ineffective from Friday, July 1. "The Amnesty Scheme would not be extended further," FBR Chairman Sidique told Journalists here.

He said that the scheme was introduced with an aim to achieve the revenue collection target set for current fiscal year besides providing opportunity to tax avoiders to file their returns without any fine and penalty.

He said those who did not filed returns would now be treated in accordance with normal procedures where they would have to pay penalties for not filing returns.

He said that those who failed in filing their returns have not only forgotten their moral duty but also failed to fullfill their national duty at a time when the nation was struggling for achieving tax collection target.

He said that the FBR had achieved the revenue collation fixed for the fiscal year 2010-11 and expressed the hope that the revenue collection target of Rs.1952 billion set for the current fiscal year would also be achieved.

Earlier, the Federation of Chambers of Commerce and Industry and the Islamabad Chamber of Commerce and Industry had requested the board to extend the Amnesty Scheme till July to facilitate the taxpayers.

The Federal Board of Revenue (FBR) had announced the second amnesty scheme for defaulters to deposit the original amount till June 30 to broaden its tax base.

Copyright APP (Associated Press of Pakistan), 2011