Extended deadline for FBR amnesty scheme ends today

The extension in the Federal Board of Revenue’s (FBR) Assets Declaration Scheme ends on Wednesday.

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The scheme, which started in May, was initially suppose to end on June 30. However, the government decided to extend the deadline for the scheme to July 3.

Under the scheme, assets within the country and abroad (except for real estate) can be whitened at a rate of four per cent. The whitened cash assets will have to be kept in Pakistani bank accounts. For people wanting to keep their whitened money abroad, a rate of 6pc will be charged.

Prime Minister Imran Khan has repeatedly advised citizens to take advantage of the amnesty scheme and declare all their assets. He also determined that the current amnesty scheme would be the last one after which those with undeclared assets will not be shown any leniency.

Later, in a discussion on state broadcaster, PM noted that although it appeared that leaving things until the last minute was a Pakistani trait, he was “considering it [an extension to the scheme], because there’s a lot of pressure, and lots of people are saying that there is too little time left to register”.

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