Govt makes registration of Rs 40,000 prize bond compulsory
The state bank would issue a circular in this regard soon.
ISLAMABAD (Dunya News) – Federal Board of Revenue (FBR) has decided to speed up the implementation of Amnesty Scheme. FBR is preparing to make benami prize bonds of Rs 40,000 unfunctional.
According to Dunya News sources, government is tightening the noose around those having black money and it would be necessary to declare bonds of Rs 40,000. The state bank would issue a circular in this regard soon.
Sources said the central bank would issue rules and regulations for the registration of prize bonds within two days. After September 30 these prize bonds would be of no use.The sources said the prize bonds of Rs 40,000 sold till now worth Rs 260 billion total.
State Bank of Pakistan would provide data of 4 million non filers to FBR till June 30 and FBR would take actions to bring those non filers to tax net. FBR has said that till now 5000 persons have applied for tax amnesty scheme.
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