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Taxpayers asked to pay outstanding tax amount by 30th

Taxpayers asked to pay outstanding tax amount by 30th

ISLAMABAD: Federal Board of Revenue has reminded taxpayers to pay outstanding tax under Assets Declaration Scheme-2019 till 30th of this month.

In a statement on Wednesday, FBR clarified that in case of non-payment of tax and default surcharge by the due date, declaration filed under the scheme will become void and any tax and default surcharge that has been paid will not be refunded.

The statement said proceedings will be initiated for undisclosed assets, expenditure and sales which may culminate to taxes and penalties amounting to 80% of the value of assets in addition to proceedings under various other laws.

It said due date for payment under the Scheme will not be extended beyond 30th of this month.