Pakistanis have legalized their foreign assets worth Rs. 1 trillion. Foreign assets being whitened are mostly coming from UAE, Singapore, UK, and Canada as part of the Amnesty Scheme.
Khaleej times have reported UAE tops among the most countries.
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Rs.246 billion was declared from UAE. This accounts for one-third of the total whitened foreign assets. In percentage, it is 34.5 percent.
Following UAE foreign assets declared during the tax amnesty scheme launched last year are as such
- Switzerland Rs.114.8 billion
- UK Rs.89.7 billion
- Singapore Rs. 87.3 billion
- British Virgin Islands Rs48.9 billion
The amnesty Scheme will end on June 30,2019 this year.
FBR officials have given statement that the UAE and Pakistan share complete details on bilateral arrangement. The Bank details are shared automatically.
Last year Pakistan received information from twenty eight countries. This year seventy-one countries. Number could go beyond hundred in next couple of years.
Earlier this month the Prime Minister Imran Khan had addressed the nation. In his address, he urged the Pakistani National to take part in the Asset Declaration Scheme.
He had asked all the people of Pakistan to benefit from this scheme.
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