National Board of Revenue chairman Md Abdur Rahman Khan has strongly criticised the practice of whitening black money, calling it an ‘indecent deed’ and ‘totally unacceptable,’ during a views exchange meeting on Sunday.
‘Personally, I believe that the practice of whitening black money is an indecent act and completely unacceptable,’ he said, adding, ‘By offering such amnesty, we are essentially admitting to the presence of corruption and demoralising honest taxpayers.’
The NBR chairman made these remarks in response to questions from reporters following a meeting with high-ranking NBR officials. He expressed his personal disapproval of the policy, emphasising the unfairness it created 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 legalises 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 at 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.
When asked about the possibility of removing the amnesty from the current 2024-25 budget, the NBR chairman said that he could not predict what decision the advisory council would make on the issue.
‘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 legalised by paying a 15 per cent tax.