ISLAMABAD: The Federal Board of Revenue (FBR) on Tuesday ruled out the possibility of extending the date of ‘tax amnesty scheme’ beyond March 31, adding that some 3,500 smuggled or non-duty paid vehicles across the country would ‘yield Rs2 billion in taxes if legalised’.
An FBR official said that the board has collected around Rs1.5bn as part of assessment on some 4,000 vehicles deposited with customs across Pakistan.
The amnesty is one time hence deadline will not be extended, he reiterated.
Prior to the announcement of the scheme, customs officials had estimated registration of 100,000 vehicles while its intelligence had put the number of smuggled and non-duty paid vehicles at around 2.3 million, he said.
“The low registration rate of cars was because of two factors; no significant discount in duty and taxes, and a substantial increase in the prices of smuggled vehicles,” he informed.
The government on March 5 announced the amnesty scheme which will expire on March 31.
According to an FBR statement, the amnesty scheme announced by the federal government will end on March 31 and “rumours suggesting possible extension in the deadline are unfounded,” it added.
Those desirous of availing this facility, therefore, must present their smuggled and non-duty paid vehicles to Customs latest by March, 31, 2013.
The FBR further expressed determination to redouble its drive against illegal vehicles after the expiry of scheme’s deadline.
Customs field formations have been instructed to impound such vehicles, besides lodging FIRs against persons found in possession of such vehicles or claim its ownership.