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Asset Declaration Ord 2019: ABAD says include late taxpayers

  • September 17, 2021

Builders have urged the government to allow people who declared their assets under the ‘Amnesty Scheme’ to pay their taxes if they missed the deadline.

The chairman of the Association of Builders and Developers of Pakistan (ABAD) Fayyaz Ilyas issued a statement on Friday. He referred to the recent circular issued by the Federal Board of Revenue regarding The Asset Declaration Ordinance, 2019 (generally known as the Amnesty Scheme).

He appealed Prime Minister Imran Khan, Federal Finance Minister Shaukat Tarin and Federal Board of Revenue Chairman Ashfaq Ahmed to allow those people to pay tax who had declared their assets under this scheme but could not pay taxes in the stipulated time period.

The Assets Declaration Ordinance, 2019 was promulgated on May 14, 2019, for the payment of taxes and the declaration of corresponding assets by June 30, 2019. The deadline was extended till July 3, 2019.

However, many people who had declared their assets either could not pay their taxes for their declared assets or paid their tax but could not submit their declarations in time. The government should give them one more chance, he said.

The Prime Minister’s motivation behind granting the amnesty was to bring all undeclared wealth on to the books and raise tax collection.

The FBR has decided to allow all those taxpayers who deposited their tax under the scheme by July 3, 2019 to file their declarations if they could not. All taxpayers can now file their declarations between September 10, 2021 and September 25, 2021.

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