Pakistanis legalize Rs1 trillion foreign assets in amnesty scheme: report

[Dubious]

So what I get from the article:

He said most of the foreign assets owned by the Pakistanis is parked here that’s why we chose this place to send the message to Pakistani nationals across the world that they have less than one week to benefit from tax amnesty and declare all their undeclared assets.

Since most of Pakistani assets are abroad, we are trying to bring them back to help OUR economy!

The purpose of the amnesty scheme, which will end on June 30, 2019, is to allow the non-documented economy’s inclusion in the taxation system to trigger economic revival and growth by encouraging a tax compliance in the economy, Ahmed had earlier said while addressing the community and media personnel in Dubai.

He revealed that some reports indicated a massive informal economy, estimated to be around 80-90 per cent of the formal GDP.

“Hence, the government decided to give a new lease of life to economy and introduced amnesty. All the overseas Pakistanis have to declare their earnings being generated in Pakistan and file tax returns,” he said.

I see no wrong in this scheme @Retired Troll whats your issues?

 

[Verve]

So what I get from the article:



Since most of Pakistani assets are abroad, we are trying to bring them back to help OUR economy!

This scheme was requested by trader community - tax evaders - one chance to pay up without the crackdown that's coming. This may help bringing money back in for much needed investment.

Pitching it as NRO is a lie.

Asking for default benefits those with stashed moneys overseas.

I say start cutting hands of politicians and Bureaucrats. Start with the gosht khor disease infested Nawaz and his right hand Babu Fawad!

 

[El Sidd]

So what I get from the article:



Since most of Pakistani assets are abroad, we are trying to bring them back to help OUR economy!





I see no wrong in this scheme @Retired Troll whats your issues?

the money was laundered outside and is this by law ill gotten wealth.

 

[VCheng]

If on average $10Bln annually got laundered in last ten years... that is $100Bln. In last ten years alone.

Let us be generous and say $5Bln got laundered annually... in the 90s... that would make it $35Bln.

Now Mushy years say $7Bln annually... almost $70Bln...

100+35+70 = $205 Bln (Isaq$ was not wrong)

Now this is just the money out of the country. What about the money in kickbacks paid abroad via shell companies?

Now if there is an average growth of 4% year-on-year basis... @ps3linux do the numbers? How much this laundered capital would be worth now?

Mangu Bhai, billi ko chhicron key khawab. None of this imagined money is ever coming back to Pakistan. Please stop dreaming and raising false hopes in others.

 

[Dubious]

the money was laundered outside and is this by law ill gotten wealth.

it was ill gotten but washed ABROAD!

COZ it is washed..it cant easily be traced and even when traced cant really be trialed....We dont have the resources to trace it let alone run it by the courts where the judges might get it and the criminal will still be free despite wasting money on tracing him!

 

[El Sidd]

Mangu Bhai, billi ko chhicron key khawab. None of this imagined money is ever coming back to Pakistan. Please stop dreaming and raising false hopes in others.

if they are declared economic terrorists Pakistan can take the game one step ahead.

 

[Dubious]

if they are declared economic terrorists Pakistan can take the game one step ahead.

Through which laws? We still cant prove NS's panama account list!

 

[VCheng]

if they are declared economic terrorists Pakistan can take the game one step ahead.

There is and will be no such game at all.

 

[El Sidd]

it was ill gotten but washed ABROAD!

COZ it is washed..it cant easily be traced and even when traced cant really be trialed....We dont have the resources to trace it let alone run it by the courts where the judges might get it and the criminal will still be free despite wasting money on tracing him!

nope. thats not how financial System of the world works.

money launderers will now finance GoP.

talk about inviting fatf to the Party

 

[Dubious]

money launderers will now finance GoP.

And in the world their washed money is now legal money! UNFORTUNATELY that is EXACTLY how many get away even America has no control over washed money!

Not even UK! Where many do wash their money! In fact can be counted as the washing capital!

 

[El Sidd]

Through which laws? We still cant prove NS's panama account list!

courts decide not people in the end

There is and will be no such game at all.

its fun why not?
we can be Brothers with Iran in fatf blacklist. PM speaks fluent persian already

 

[Dubious]

courts decide not people in the end

and Pakistani courts can be bought! Judges can be bought so far 1 court DECIDED and ANOTHER lower court OVERTURNED! With our tax payers money being wasted per "postponing" coz NS has health issues!

 

[El Sidd]

And in the world their washed money is now legal money! UNFORTUNATELY that is EXACTLY how many get away even America has no control over washed money!

Not even UK! Where many do wash their money! In fact can be counted as the washing capital!

if you declare them terrorists you get them back

money launderers are economic terrorists and i understand pakistanis love saving money and building houses. but still whats wrong is wrong

and Pakistani courts can be bought! Judges can be bought so far 1 court DECIDED and ANOTHER lower court OVERTURNED! With our tax payers money being wasted per "postponing" coz NS has health issues!

and they are buying them again unser this scheme of NRO.

hum kahe to haram aap arz karen to halal.

wah re qudrat

 

[Dubious]

if you declare them terrorists you get them back

money launderers are economic terrorists and i understand pakistanis love saving money and building houses. but still whats wrong is wrong

Can you show me 1 country that has managed this?! Just 1 country! Remember Pakistan isnt as advanced and we are short on money!

and they are buying them again unser this scheme of NRO.

hum kahe to haram aap arz karen to halal.

wah re qudrat

We are not buying them...They have already washed their money (wonder where previous govt was on this)...Now all we can do is register them and their overseas assets and ask tax them if they are in Pakistan and our citizens!

 

[BHarwana]

In this assets declaration scheme there is one very big problem. Why are gold assets being left out? There are many house wife in Pakistan who have gold they are not part of taxnet as well and that gold will remain undeclared for ever. If you take into account the marriages in Pakistan even the poorest of the families give their daughter gold so how will that come into account and after 30th June it will be a problem for many people.