Approval from the National Assembly is mandatory for tax amnesty

 

Approval from the National Assembly is mandatory for tax amnesty

Approval from the National Assembly is mandatory for tax amnesty

Islamabad Web Desk

The approval of the National Assembly has been made mandatory for tax amnesty under IMF's strict conditions.

Tax amnesty scheme, tax exemption shall not be given without approval of National Assembly.

According to the Letter of Intent (LOI), there will be a ban on issuing SRO for tax amnesty scheme, tax exemption, any sector will have to get approval from the National Assembly for tax exemption.

The LoI states that construction sector, amnesty for disclosure of secret assets will be approved by the National Assembly.

We will work together with the provinces for mutual coordination in sales tax, we will get the support of the World Bank for mutual coordination in sales tax with the provinces.

Pakistan assured the IMF to implement the terms of LOI.