ISLAMABAD, April 17: The federal cabinet failed to reach a consensus in a meeting convened on Wednesday over the Asset Declaration scheme for undeclared assets.
The federal information minister announced that the government has decided to improve the scheme, however, the insiders present in the meeting disclosed that majority of the cabinet members have recommended the premier to take nation into confidence before introducing the scheme.
The cabinet members said that in the given political situation no such scheme will be successful.
Sources said that the minister expressed strong reservations over the Federal Board of Revenue’s actions, which in their view, was creating uncertainty in the market.
A cabinet member said that the tax net cannot increased without reforms in the FBR. The members said that there should be action against tax evadors rather than amnesty scheme for them. Finance Minister Asad Umar maintained that the cabinet members should understand that it takes time for reforms to give desired results. The premier has instructred members to give further recommendations on the scheme, and announced that he will take a decision in the next cabinet session. – Agencies
