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In a pre-recorded message released on social media and elsewhere, the Prime Minister Imran Khan, while addressing the nation said that only 1% out of the 220 million Pakistanis bear the burden of taxes. He painfully shared that the nation is suffering, as many are not fulfilling their lawful duties and paying their due share to the State. PM Imran Khan also shared that the institutions now have information and are constantly getting more, implying that they have also developed the mechanism to identify and followup the tax evaders. The PM concluded by saying that this is the last chance to avail the recently launched tax amnesty till 30th June 2019 and sleep peacefully while also contributing to your nation. The spirit of the message is right.
The first ever and one of the more successful tax amnesty schemes in Pakistan was launched during Ayub Khan’s era in 1958. It resulted in a collection of approximately PKR 1.12 billion which equaled to US $ 0.24 billion approximately and around 71,289 people came within the tax net by making declarations. General Yahya Khan also launched a tax amnesty scheme in 1969 but ended up adding only 19,600 taxpayers with declared assets of just PKR 920 million. Zulfiqar Ali Bhutto’s tax amnesty in 1976 saw the number of people declaring assets decline drastically with assets worth only PKR 270 million declared. The scheme by General Zia’s government was a disaster.
It’s with great pleasure that I share this news that I was honored to have attended and represented members at the AGM of ACCA Pakistan. Futhermore, I’ve also been venerated with the honor of representing the members in Pakistan on the Members’ Network Panel (MNP) of the largest global accountancy body, ACCA. May I also take this opportunity to express my gratitude towards all my family, friends, colleagues and executives at ACCA. I’ll continue to meet and exceed your expectations for the betterment of the fraternity in line with my track record.