ISLAMABAD - Finance Minister Dr Shamshad Akhtar on Tuesday made it clear that amnesty scheme would not be extended, which is going to expire on June 30.
Chairing a meeting at the Federal Board of Revenue (FBR) here on Tuesday, she urged senior FBR officials to keep up efforts for best possible results under the scheme. She also emphasized effectively utilizing public liaison/advertisement campaign during remainder of the scheme's validity period to take the scheme to a meaningful and conclusive end.
FBR chairman briefed the minister about the progress of the Tax Amnesty Scheme and the current state of revenue generation.
He said overall there has been positive response to the amnesty scheme and it would have significant bearing on revenue generation.
The chairman shared with the minister details about the task carried out by the tax reforms committee over a period of time, making recommendations and proposals for reformation of the tax regime.
He also apprised her about the working of the implementation committee which has seen to it that recommendations for tax reforms are prioritized in terms of their utility and implemented in letter and spirit.
The minister called upon FBR to come up with measures, particularly those for simplification of filing of returns and automation that can help enhance revenue generation.
She also highlighted the need for installation of quality scanners at all the ports, replacing physical checking for Customs clearance, a step that she said would help boost revenue.
Members of the Tax Reforms Committee and senior officials of the FBR attended the meeting.
Meanwhile, Dr Shamshad Akhtar has directed Pakistan Stock Exchange (PSX) to form a committee to propose a five-year roadmap for the development of Pakistan's capital market.
During her visit to Pakistan Stock Exchange, the minister held meeting with representatives of PSX board management, senior market participants and discussed various issues related to capital market development and amnesty scheme announced by government for declaration of assets.
Chairman Pakistan Stock Exchange board Hussain Lawai briefed the minister about performance of the exchange.
