PM announces tax amnesty scheme for non-payers

INSUBCONTINENT EXCLUSIVE:
PM announces tax amnesty scheme for non-payersIslamabad: Prime Minister Shahid Khaqan Abbasi has announced a
special tax amnesty scheme for the Pakistanis who are non-payers.Addressing a press conference after Economic Advisory Council meeting here
Minister said it would be one time incentive upto 30th of June to declare hidden assets inside and outside Pakistan.Announcing reduction in
the percentage of the income tax, he said the citizen having Rs100,000 per month income is exempted from the tax.He said there would be 5
percent income tax on income falling between Rs 1.2 to 2.4 million annually.Shahid Khaqan Abbasi said the rate of income tax for the income
bracket of Rs 2.4 to 4.8 million would be 10 percent and 15 percent on more than Rs 4.8 million.PM Abbasi said in future the Computerized
National Identity Card (CNIC) number will be used as the income tax number.He expressed the confidence that the substantial reduction in
income tax rate would serve as incentive for people to pay tax.