KCCI demands more time for amnesty scheme

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KARACHI:

Karachi Chamber of Commerce and Industry (KCCI) has demanded extension in last date for Amnesty Scheme 2018 by at least one month.


In a statement on Tuesday, Mufassar Atta Malik, President, KCCI said majority of individuals could benefit from this scheme with an attractive tax rate for declaration and repatriation of foreign assets.


In a statement issued, Muffasar Malik pointed out that so far, the Amnesty Scheme has received good response but we expect that more individuals will now avail this scheme as many potential individuals, who wanted to avail this scheme, remained on a wait and watch mode throughout July to see the outcome of general election. “As the election proceedings have completed across the country now and the new government will soon take control of the country’s affairs, this is the right time to extend the scheme by up to August 31, 2018 which is capable of fetching the desperately needed foreign reserves for the country”, he added.


He hoped that the government, which is facing difficulties in reducing more pressure on dwindling foreign exchange reserves, would review the situation and accordingly announce the extension in last date of the Amnesty Scheme in the larger interest of the country.

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