Daily Times

Association of Builders and Developers of Pakistan (ABAD) demanded that the caretaker government announce the extension of Tax Amnesty Scheme for at least six months and adopt Indonesian Model of Tax Amnesty Scheme to facilitate more people in joining the tax-payers’ list.

ABAD Chairman Arif Yousuf Jeewa said that people were ready to pay taxes for betterment of the country but most of people would not be able to avail this opportunity as this scheme was announced effective from April 12, 2018 and the last date to avail it was June 30, 2018.

Yousuf Jeewa explained this was a very short time even for documentation. “Interested people were reluctant in availing this scheme because Supreme Court of Pakistan (SCP) had announced to take stock of scheme”.

Moreover, people could not avail this opportunity due to month of Ramazan and public holidays, Jeewa added. According to Jeewa, after the clearance from apex court people, in possession of undeclared money and assets, were willing to avail this opportunity but the timeframe was very short.

Jeewa said that the present government setup, specially caretaker Finance Minister, Dr Shamshad Akhtar, who had declared a day earlier that the last date of Tax Amnesty Scheme would not be extended, should reconsider her announcement and extend date of scheme at least for six months to facilitate more people and collect more taxes.

Arif Jeewa said that Indonesia had successfully implemented Tax Amnesty Scheme and earned more than $360 billion and also thousands of new taxpayers last year.

He said that the Indonesian government had given 9 months’ time to its local and overseas citizens. He added that the Indonesian government had charged a very low tax for first three months and then gradually increased the taxes. “The caretaker government should also follow Indonesian Model to collect more taxes,” said the ABAD chairman.

Jeewa stated that people involved in construction sector were more willing to avail this opportunity and more foreign exchange would flow into country if government would take keen interest in implementing Tax Amnesty Scheme.

Published in Daily Times, June 21^st 2018.