Supreme Court of Pakistan today has allowed government to go ahead with Amnesty Scheme 2018. The Supreme Court today ruled in favor of the Amnesty Scheme in Islamabad.
The Amnesty Scheme launched by ex-Prime Minister Shahid Khaqqan Abbasi was under the scrutiny of Supreme Court. The Court had delayed the implementation of the Scheme as many experts questioned the veracity of such a scheme.
The Supreme Court will release the detailed ruling after a short while.
On 18th of May, 2018, the National Assembly of Pakistan approved the Tax Amnesty 2018. Ex – Prime Minister Shahid Khaqan Abbasi and the then Advisor to PM Mr. Miftah Ismail had earlier presented an amnesty scheme to increase the tax net and broaden the number of tax filers.
Prime Minister of Pakistan, Mr. Shahid Khaqan Abbasi, on 5th April, 2018 had announced a five point reform agenda for changes individual tax rates, Foreign Assets Declaration and Repatriation Ordinance and Voluntary Declaration of Domestic Assets Ordinance.
Moodys Credit Rating Agency had also termed the outgoing Government’s Amnesty Scheme as positive for the economy citing the increase in tax-base expected as a result of this Scheme.
However, lawmakers and other opposition parties had challenged the timing of the scheme.