FBR rebuts news report regarding payment of tax under tax amnesty

ISLAMABAD, Jul 17: Federal Board of Revenue (FBR) Tuesday strongly rebutted a news report published in a section of the national press regarding payment of tax under foreign tax amnesty scheme by a Karachi-based taxpayer.

In a statement issued here, FBR rejected the contents of the report and strongly denied that the baseless information has been provided by FBR sources.

The board clarified that it was bound by strict confidentiality provisions contained in Foreign Assets (Declaration and Repatriation) Act, 2018 and Voluntary Declaration of Domestic Assets Act, 2018.

Under these provisions disclosure was punishable by fine from five hundred thousand to one million rupees or imprisonment for a term not exceeding one year or with both.

To ensure confidentiality of the declarants, FBR had developed an online system for filing amnesty declarations, which had proper safeguards in place and restricts access to information contained in the

declarations.

(APP)