Federal Cabinet approves Amnesty Scheme 2019 ~ ACCOUNTING AND TAX JOURNAL

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Tuesday, May 14, 2019

Federal Cabinet approves Amnesty Scheme 2019


According to sources, the amnesty scheme recommends the following:

5 per cent tax on individuals declaring assets by June 30, 2019

10 per cent tax on individuals declaring assets by September 30, 2019

20 per cent tax on individuals declaring assets by December 31, 2019

Recommendation for investment in Pakistan Banao Certificates for those declaring assets abroad

Recommendation for tax amnesty scheme for real estate sector

1 per cent tax on those declaring property by June 30, 2019

2 per cent tax on those declaring property by September 30, 2019

4 per cent tax on those declaring property by December 31, 2019

The scheme will also be applicable on benami accounts

3 per cent tax on undeclared sales

The scheme cannot be availed by individuals holding government positions after 2000

The scheme will not be applicable on cases being heard in court
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Welcome! I’m Tasleem Faraz Minhas - the author of this blog and a seasoned Finance Executive with 22+ years of cross-border experience across Saudi Arabia, the UAE, and Pakistan. Throughout my career, I’ve consistently delivered strong, measurable outcomes in financial management, digital transformation, and tax compliance. I’ve led successful ERP implementations, driven multi-million SAR/AED cost efficiencies, and strengthened cash-flow performance for large and diverse organizations. Through this blog, I aim to share insights, practical guidance, and real-world finance and tax expertise that professionals can apply with confidence.

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