National Board of Revenue (NBR) Chairman Md Abdur Rahman Khan has strongly criticised the practice of whitening black money, calling it an “indecent deed” and “totally unacceptable.” On Sunday (18 August), he came up with the comment during a views exchange meeting.
Personally, I believe that the practice of whitening black money is an indecent act and completely unacceptable, he said. By offering such amnesty, we are essentially admitting to the presence of corruption and demoralizing honest taxpayers.
During the meeting, he expressed his personal disapproval of the policy, emphasizing the unfairness it creates between honest taxpayers and those who evade taxes.
An honest taxpayer pays taxes at the regular rate throughout their life, while another person evades taxes and then legalizes their money at a lower rate through this amnesty, he pointed out.
Reflecting on his opposition to the scheme during the 2024-25 budget discussions, he revealed that he had voiced his concerns to the previous NBR chairman and even to a friend in the Prime Minister’s Office. “At one point, it seemed like the amnesty would be scrapped, but it ultimately remained. It should be scrapped,” he asserted.
Replying to a question, the NBR Chairman said he could not predict the size of the next budget what decision the Advisory Council would make the decision. “As a citizen, I must say that this is not a good practice and should never be done again. We have implemented it many times before, but the results have never been satisfactory,” he said.
The Finance Bill 2024 includes a provision allowing undisclosed money, commonly referred to as black money, to be legalized by paying a 15 per cent tax.
The adviser also expressed firm determination to take actions against all types of offences, including money laundering and corruption.
