KARACHI: Association of Builders and Developers of Pakistan (ABAD) Chairman Fayyaz Ilyas Friday termed a recent circular issued by the Federal Board of Revenue (FBR) regarding The Assets Declaration Ordinance, 2019 as an appreciable step, appealing the Prime Minister Imran Khan to allow those people to pay tax, who had declared their assets under this scheme but could not pay taxes in stipulated time period.
He said that The Assets Declaration Ordinance, 2019 was promulgated on May 14th, 2019, for payment of tax and declaration of corresponding assets by June 30th, 2019 and later on, the due date was extended till July 3rd, 2019. However, many of the people, who had declared their assets either could not pay tax against their declared assets or paid their due tax but could not submit their declarations, he said adding that the government should give one more chance to all taxpayers in this direction.
He said that the Prime Minister vision for granting Amnesty was to bring all undeclared wealth into the book and raise the tax collection but the announcement of FBR to allow those people who had paid taxes under the said amnesty scheme to file their declaration is also a good step but with that all persons who had filed their declaration of assets also should be allowed to pay taxes so that FBR itself can get benefits to get its target of tax collection for this year.
He said that I hope the government will ask the FBR to allow pay taxes to those people who had filed declarations of their assets and give relief to them.
It is to mention that the FBR has decided to allow the filing of declarations for all those citizen taxpayers/persons who deposited tax under the Ordinance within the due date i.e. July 3rd, 2019 but could not file their declarations due to any reason. The system has been enabled for this purpose and all taxpayers can now file their declarations between September 10th, 2021 till September 25th, 2021.
Copyright Business Recorder, 2021