May 31, 2019 (MLN): Revenue Minister Hammad Azhar has announced on his official page on social media that the scheme for promissory notes (bond) has been activated and Rs.7 billion of bonds in lieu of sales tax refunds have already been issued.
This action succeeds his previous announcement on the same platform on May 26, 2019 when he said that the government will be implementing promissory notes for immediate clearance of pending funds, flat tax rates for small trader in Islamabad, and single portal online filing of sales tax with provinces.
He mentioned that these initiatives to boost the revenues will materialize within the next two months.
“The above will be in addition to the annual budget that shall be tabled on June 11, 2019 and the Asset Declaration Scheme that has already been announced,” Azhar had added.
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