Economics
Tax Cheats Get Free Pass If They Invest in Pakistan Housing
- Pakistan expects $2.4 billion of construction to start in 2020
- Investors will have to register with the tax office to benefit
Photographer: Farooq Naeem/AFP via Getty Images
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Pakistan is willing to forgive tax evaders if they help fund activity in the economy that shrank for the first time in seven decades last financial year.
Authorities in Pakistan, where just 1% of the population file tax returns, will look the other way if people with illicit cash -- locally known as black money -- invest in construction projects such as Prime Minister Imran Khan’s flagship Naya Pakistan Housing Program by Dec. 31, according to the Federal Board of Revenue.