Imran Khan asks Pakistanis to declare their assets by Jun 30
Islamabad: Prime Minister Imran Khan on Monday asked Pakistanis to take advantage of the tax amnesty scheme and declare their undisclosed assets by June 30 to contribute in the development of the country which is grappling with a severe financial crunch.
Addressing the nation ahead of the federal budget for fiscal year 2019-20 to be announced Tuesday, Khan said. "We will need to change ourselves if we want to become a great country."
"I am appealing to all of you to take part in the Asset Declaration Scheme that we have brought, because if we don't pay taxes, we will not be able to raise our country up," Khan said.
The premier said that people have until June 30 to declare their benami assets, benami bank accounts and money that was kept abroad.
Benami is a term used for a transaction, contract, or property that is made or held under a name that is fictitious or is that of a third party who holds as ostensible owner for the principal or beneficial owner.
"After June 30, you will not get this opportunity," he said. "Our agencies have information about who has benami accounts and benami properties," the premier said.
"This was never available to us before therefore take advantage of this scheme. Give Pakistan the benefit. Fix your children's future. [Give us] the chance that we get this country to stand on its own two feet and take people out of poverty," he said.
"My Pakistanis, in the past ten years Pakistan's debt went from Rs 6,000 billion to Rs 30,000 billion," he said.
Khan said that the damage that this had caused to the country was that the annual tax collected was approximately Rs 4,000 billion, half of which went towards repaying loans "they" had taken.
"This country cannot cover its expenses on the money that is left behind," he added.
"Pakistan is the country that unfortunately gives the least tax in the world but is among the few countries that give the most charity."
"This is the country that has [the] capability and if passion comes in, we can at the very least gather Rs10,000 billion every year," the premier said.
In May, the Pakistan Tehreek-e-Insaf government had announced its first tax amnesty scheme Asset Declaration Scheme for whitening of undisclosed expenditures, sales and assets, including foreign assets, at nominal tax rates.
The scheme came into effect through a presidential ordinance, which will offer a period of 45 days to people for declaration of their undeclared assets, expenditures, and sales along with payment of taxes until June 30 this year.
The scheme, approved by the federal Cabinet during a meeting presided over by the premier, has five main pillars scope, default surcharge, exclusions, tax rates and conditions.
Unlike the past schemes, no revenue realisation projection was made on the plea that it is meant for allowing the grey economy's inclusion in the tax net, Dawn newspaper said.
The government plans to present an austerity-oriented budget with no increase in the salaries of army officials of higher ranks.
This is the second time that the premier has appealed to the people to declare their benami assets and bank accounts under the government's Assets Declaration Scheme by June 30.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Man kills 12-year-old nephew over property dispute in Karnataka’s Sindhanur
Sindhanur: A 12-year-old boy was killed and his mother seriously injured after a man allegedly attacked his elder brother’s family with a knife over a property dispute in Alabanur village of Sindhanur taluk on Wednesday morning.
The deceased has been identified as Nagaraj Siddappa Alvi (12). Amrutha Siddappa (42) sustained serious injuries in the attack. Police said the accused is Basavaraj Rudrappa Alvi, the younger brother of the victim boy’s father.
According to preliminary information, Basavaraj had arrived in Alabanur village on Tuesday and was staying at his mother’s house.
On Wednesday morning, he allegedly went to the house of his brother Siddappa carrying a knife. At the time, Siddappa’s wife Amrutha and children Nagaraj and Dhanush were present in the house.
Police said the accused allegedly attacked them with the knife. Nagaraj died in the incident, while Amrutha and Dhanush suffered serious injuries.
The injured were shifted to the government hospital in the city for treatment.
Deputy Superintendent of Police G. Chandrashekhar visited the spot and gathered information.
Sources said Chinnamma Rudrappa of Alabanur village has two sons Siddappa, who lives in Alabanur, and Basavaraj, who resides in Alliganur village of Siruguppa taluk.
Police suspect the long-standing property dispute between the two brothers led to the fatal attack.
