Pakistan Prime Minister Imran Khan urged the citizens to reveal their assets as the country is going through an economic crisis.
The details should be given through the Asset Declaration Scheme before June 30. If the taxes are not paid it will affect the nation’s progress added Khan. The remarks came as the budget for 2019-20 is due for the next day.
In order to be a better nation, we must change first. People should give details of benami accounts, benami assets and foreign investments in this time. He warned that the investigative agencies have a record of the benami accounts. June 30 is the deadline and after that, an opportunity will not be given. If benami assets except real estate are revealed, that can be owned by paying a tax of 4%. The benami amounts kept in Pakistan and investments in foreign banks will be levied with 6% tax.
The country’s external debt has increased from 2.85 lakh crore to 14.25 lakh crore over a decade. Khan said that a major chunk of tax is used to pay the debts.
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