FBR announces amnesty for industry.

ISLAMABAD -- Announcing amnesty for industry, the Federal Board of Revenue (FBR) Wednesday urged the industrialists and manufacturers to take advantage of the Asset Declaration Scheme and clear their past sales tax liabilities by paying just two percent tax till June 30, 2019 or the law would take its due course after the expiry of the data. 'A special clause has been included in the Asset Declaration Scheme, which was not included in it earlier, which is that if anybody is having sales tax liability he or she may clear these by paying just two percent tax,' the Chairman FBR, Mohammad Shabbar Zaidi said while addressing a press conference at FBR house here.

He said that currently there were around 341,174 industrial electricity connection and 7000 industrial gas connections, however compared to this the sales tax registration of industry was just 38,937, which he said was a huge gap. 'It is my request to all industrial consumers to take advantage of the scheme before June 30 and may be it (the scheme) do not remain in the same shape after July 1st,' so the people...