ISLAMABAD – Chief Justice of Pakistan (CJP) Mian Saqib Nisar on Tuesday has said that the amnesty scheme got failed due to the government.
During a hearing, CJP clarified that the apex court would not interfere in the matter. We have created problems for the future generation by taking loans, he added.
The top judge further demanded to constitute think tank for the restoration of economy in the country.
On April 6, former Prime Minister Shahid Khaqan Abbasi announced an amnesty scheme for the non-taxpayers and said that the politicians could not take advantage of the scheme.
The prime minister said that only 1.2 million people are filer income tax return out of a population of 207 million, adding that only 700,000 were paying tax while others only filed returns and paid no income tax.
“The maximum rate of income tax was being reduced from the existing 30% to 15%, Abbasi said and added annual income of upto Rs1.2 million would be exempted from the income tax.
He said that an individual earning Rs4.8 million per annum will pay 15 percent tax, adding that the rate of income tax for the income bracket of 2.4 to 4.8 million rupees would be 10 percent. There would be five percent income tax on income falling between 1.2 to 2.4 million rupees annually.
The premier said that even those who have been paying income tax include 90% whose tax is deducted at source.
Afterwards, the scheme was rejected by National Assembly’s Standing Committee on Finance.
A meeting of the Standing Committee on Finance was held in Islamabad with Pakistan Muslim League-Nawaz’s Qaiser Ahmad Sheikh in chair while among others it was attended by Muttahida Qaumi Movement’s (MQM) Rasheed Godil, Pakistan Peoples’ Party’s (PPP) Nafeesa Shah, Mahmood Mustafa and Pakistan Tehreek-e-Insaf’s (PTI) Asad Umer.
The committee members strongly criticised the scheme announced by the prime minister.