Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Logo
Friday, November 22, 2019 07:20:38 AM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

Imran asks citizens to declare their assets by June 30

photo by AP photo

Pakistan\'s Prime Minister Imran Khan speaks at a news conference.

By
12th-Jun-2019       
Share
  • Twitter
  • Google+
  • Save
  • E-mail
  • Print
Comments
Share your thought
Post a comment »
Read all () »

PTI, Islamabad :
Pakistan Prime Minister Imran Khan on Monday warned of legal action against those who do not declare their undisclosed assets by June 30, as the cash-strapped government ramps up efforts to fix the country's economy.
Addressing the nation ahead of the federal budget for fiscal year 2019-20 to be announced Tuesday, Mr Khan said. "We will need to change ourselves if we want to become a great country."
"I am appealing to all of you to take part in the Asset Declaration Scheme that we have brought, because if we don't pay taxes, we will not be able to raise our country up," Mr Khan said.
The premier said that people have until June 30 to declare their benami assets, benami bank accounts and money that was kept abroad.
Benami is a term used for a transaction, contract, or property that is made or held under a name that is fictitious or is that of a third party who holds as ostensible owner for the principal or beneficial owner.
"After June 30, you will not get this opportunity," he said.
"Our agencies have information about who has benami accounts and benami properties," the premier said.
"This was never available to us before therefore take advantage of this scheme. Give Pakistan the benefit. Fix your children"s future. [Give us] the chance that we get this country to stand on its own two feet and take people out of poverty," he said.
"My Pakistanis, in the past ten years Pakistan"s debt went from Rs. 6,000 billion to Rs. 30,000 billion," he said.
Mr Khan said that the damage that this had caused to the country was that the annual tax collected was approximately Rs. 4,000 billion, half of which went towards repaying loans "they" had taken.
"This country cannot cover its expenses on the money that is left behind," he added.
Pakistan recently reached a preliminary agreement with the IMF for a $ 6 billion bailout.
"Pakistan is the country that unfortunately gives the least tax in the world but is among the few countries that give the most charity."
"This is the country that has [the] capability and if passion comes in, we can at the very least gather Rs10,000 billion every year," the premier said.
In May, the Pakistan Tehreek-e-Insaf government had announced its first tax amnesty scheme - Asset Declaration Scheme - for whitening of undisclosed expenditures, sales and assets, including foreign assets, at nominal tax rates.
The scheme came into effect through a presidential ordinance, which will offer a period of 45 days to people for declaration of their undeclared assets, expenditures, and sales along with payment of taxes until June 30 this year.
The scheme, approved by the federal Cabinet during a meeting presided over by the premier, has five main pillars - scope, default surcharge, exclusions, tax rates and conditions.
Unlike the past schemes, no revenue realisation projection was made on the plea that it is meant for allowing the grey economy"s inclusion in the tax net, Dawn newspaper said.
The government plans to present an austerity-oriented budget with no increase in the salaries of army officials of higher ranks.

Tariff
Add Rate

News Archive

Inside The New Nation

Editorial »

Government lacks human factor for solving crisis


GETTING assurance from government that the demands regarding the Road Transport Act would be looked into, the transport leaders and workers have called off their nationwide strike that began on Wednesday. Earlier, they went on a strike demanding 9-points including amendment to the newly introduced law.  The Home Minister himself ...

International »

Pope in Thailand calls for action to protect women, children


AP, Bangkok :Pope Francis called Thursday for women and children to be protected from exploitation, abuse and enslavement as he began a busy two days of meetings in Thailand, where human trafficking and forced prostitution help fuel the sexual tourism industry.Francis pleaded for action against one of the region's greatest ...

Cricket »

Indian and Bangladeshi cricket supporters cheer for their teams with their national flags ahead of their second cricket Test match between India and Bangladesh, in Kolkata, India on Thursday. The second and final game in the series is scheduled to be played in Kolkata starting today.


.

Entertainment »

Manjari Fadnnis bags an UN backed int’l project


After the success of Barot House, Manjari Faddnis makes her presence felt in a United Nations backed project, Megha’s Divorce helmed by award winning director Nila Madhab Panda. Megha’s Divorce is a short film which part of an anthology of shorts curated from world over. In India, the film will ...

Entertainment »

Shanu’s three books coming Ekushey Book Fair


Sheikh Arif Bulbon :Popular Lux superstar and actress Shanarei Devi Shanu has been passing busy times with writing stories, novels and poems foe last few years. This year’s book fair, Shanu-written first children book titled Shanarei O Tar Jadur Leitreng. For writing this book she recently got Meena Award. According ...

Editorial »

Govt now faces its own created monsters


THE truck owners and workers have gone for work abstention protesting the enforcement of the Road Transport Act-2018 resulting in immense sufferings to people and businessmen across the country. The transport workers in nine more districts joined the work stoppage yesterday that began in 10 districts on Monday, defying the ...

Cricket »

Early sunset in Kolkata could pose challenge for batsmen, says Vettori


Bangladesh's spin bowling consultant Daniel Vettori conceded that early sunset in Kolkata could pose a massive challenge for his team's batsmen during the "twilight" hours of the upcoming historic Day-Night Test against India starting on Friday.While a handful of first team players from India have played pink-ball game in domestic ...

International »

Israeli settlements are still illegal despite Trump backing them: UN


The Independent :Israeli settlements in occupied Palestinian territory remain illegal despite the US saying it no longer considers them inconsistent with international law, the United Nations human rights office has said.The Trump administration abandoned its four-decade policy on Monday by saying it was "reversing the Obama administration's approach towards Israeli ...

International »

US scientist claims evidence of life on Mars


Agencies, New York :As scientists scramble to determine whether there is life on Mars, a researcher from Ohio University in US believes that there is evidence of insect-like creatures on the red planet.Courtesy photographs from various Mars rovers, Professor Emeritus William Romoser's research found numerous examples of insect-like forms, structured ...

City »

Envoy of Ivory Coast to Bangladesh Mr. Sainy Tiemele paid a farewell call on President Abdul Hamid at Bangabhaban on Wednesday.


City »

Jatiyatabadi Krishak Dal formed a human chain in front of the Jatiya Press Club on Tuesday in protest against price spiral of essential commodities.


Cricket »

Archer admits short ball won't faze Kane Williamson


Jofra Archer, the England pacer, has said that bowling to Kane Williamson in the New Zealand Test series will be as challenging as it was against Steve Smith in the Ashes.Smith, the top-ranked batsman in MRF Tyres ICC Test Rankings, was in excellent form in the 2019 Ashes, accumulating 774 ...

Editorial »

Don't let rice and salt to follow the path of onion


PRICES of rice have been increasing. This is happening at a time when people are trying hard to absorb tremendous shock following the abnormal price hike of onion. Like the onions, the millers earlier had claimed surplus of rice and demanded cash incentives to export their product; whereas now prices ...

International »

US breaks off defense cost talks amid S Korea backlash over $5b demand


AFP, Seoul : The United States walked out of talks on hiking South Korea's contribution for American troops on its soil, Seoul said Tuesday, as Washington accused its ally of rebuffing a "fair and equitable" agreement.US President Donald Trump has repeatedly demanded the South pay more towards the costs of the ...

Business & Economy »

Mohammad Jakir Hossain, Deputy Commissioner of Joypurhat, handing over the educational materials among the students as the chief guest at "School Banking Conference 2019" organized by Prime Bank Limited at Joypurhat Sadar recently while Mohammad Salam Kabir, SP of Joypurhat and Rashida Begum, DGM of Bangladesh Bank (Bogura) graced the event as special guests. A K M Enamul Haque, Rajshahi Regional Head of the bank and local elites were also present.


 
Items that you save may be read at any time on your computer, iPad, iPhone or Android devices.
 
Are you new to our website? Do you have already an account at our website?
Create An Account Log in here
Email this news to a friend or like someone
Email:
Write a comment to this news