Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
ISLAMABAD (AP) — Pakistan's prime minister says tax evaders who fail to declare their wealth and pay taxes will face legal action.
Imran Khan delivered his message in a televised speech on Monday, vowing punitive measures for Pakistanis who won't disclose the property they own or the amount of money they keep in banks at home and abroad.
Khan's actions are part of a recently announced program to get tax evaders to mend their ways by June 30. The government is allowing them to legalize their wealth by paying 4% taxes on previously undisclosed assets.
Most high-income earners in Pakistan avoid paying taxes altogether.
Since coming to power in 2018, Khan's government has faced significant economic challenges. Pakistan recently reached a preliminary agreement with the IMF for a $6 billion bailout.
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
