On Monday, Imran Khan, Pakistani Prime Minister requested all tax evaders in a televised address to disclose all financial assets before 30 June 2019, both national & international. Failing to do so will result in action been taken indiscriminately.
The PM added that his government has exceptionally detailed information regarding the citizens’ assets which include real estate including Benami transactions (in someone else’s name) and bank accounts. The government will present the 2019 – 2020 budget during Tuesday.
PM Khan stated that via bilateral agreements with various countries information is shared, whilst the intelligence agencies also provided information.
He announced that during 10 years Pakistan’s debt & liabilities escalated from Rs6-trillion to a staggering Rs30-trillion. He added that the amount collected from the tax is Rs4-trillion of which half goes towards debts from prior governments.
The prime minister mentioned further that although Pakistani’s is amongst the globe’s highest charitable nations, they are also the nation with the fewest tax payers.
He earnestly requested that the people should come forward and pay their taxes because Rs10-trillion can be collected and added that the national economy could be revived due to a passion for uplifting the country which is facing challenges.
PM Imran Khan urged the nation to register as tax payers, taking advantage of this Asset Declaration Scheme, in making Pakistan financially strong & stable.
He concluded that they can derive benefit for themselves from the scheme whilst providing benefit to Pakistan by uplifting it from poverty.
A meeting about the upcoming fiscal budget for 2019 – 2020, chaired by PM Khan to consider budget proposals, took place on Sunday.
The attendees include Abdul Hafeez Shaikh (Adviser on Finance); Abdul Razak Dawood (Adviser on Commerce); Hammad Azhar (Minister of State – Revenue); Dr. Reza Baqir (Bank of Pakistan’s Governor State Bank); Chairman Shabbar Zaidi FBR (Federal Board of Revenue) & more officials.
Prior to the presentation of the budget within the National Assembly scheduled for 11 June 2019, the proposals will be discussed & approved by the Federal Cabinet.