Asset Declaration Ordinance 2019: FBR issues declaration form

The Federal Board of Revenue (FBR) has issued the declaration form under Asset Declaration Ordinance 2019 for persons availing the Assets Declaration Scheme. According to the Declaration issued under Asset Declaration Ordinance 2019, the person availing the scheme would declare: "I hereby declare that any declaration by misrepresentation or suppression of facts shall render such declaration void and shall be deemed to have been never made under Assets Declaration Ordinance, 2019."
The Declaration, available on the IRIS FBR's online portal, also specifies domestic assets, owned assets, Benami assets, foreign assets, undisclosed -expenditures, undisclosed sales and payment of tax demanded and tax payable. The declaration also included description of asset along with the proposed tax rates, cost of acquisition, fair market value and tax in Pak rupee.