Extended facility of Tax Amnesty Scheme has expired on July 31, 2018 without any further extension yielding about Rs 122 billion into the national exchequer through some 70 thousand declarations of foreign and domestic undeclared and untaxed assets.
Those who have responded to this one time tax amnesty scheme deserve to be appreciated that they have declared their local and foreign hidden assets on payment of 2 to 5 per cent tax only. Better late than never.
However, this is to stress the dire need for launching of a massive crackdown on pretty large number of Pakistanis who are still hiding their foreign and local assets without availing declaration facility under the just expired Tax Amnesty Scheme.
The crackdown against the apparently tax defaulters should be launched in a ruthless manner showing no concession or mercy to the defaulters who are guilty of depriving the national exchequer by continuing hiding their assets illegally and against the national interests. The number of such tax defaulters is likely to be in thousands despite about 70 thousand declarations under the Tax Amnesty Scheme. They need to be nabbed forthwith and punished under the laws of the land . Such tax defaulters who otherwise continue to be availing all facilities in open or covert manner do not need any mercy whatsoever. They are guilty of committing dacoity on the national exchequer and by still hiding their foreign and local undeclared assets under their white collars and the appropriate official agencies concerned ought to go after them straight away without wasting any time.
Lahore, August 1.