Undisclosed legal money
It pains me much to know, through the news item "None utilises latest scope of legalisation" published in your daily on 27 July that not a single person holding undisclosed legally earned money has come up yet to avail the tax amnesty. One can easily understand why honest citizens are reluctant to take advantage of this so-called amnesty. An amnesty should not have a threat of 7 per cent fine. Amnesty with strings attached to it is no amnesty at all.
I fully support the request made to the government by Abdullah Syed on 25 July through this much-read column, to kindly provide honest citizens with a last chance to declare their legal money and pay due tax without any fine. A total amnesty with full exemption from fine/penalty will certainly inspire hundreds with lawfully earned money to declare their wealth and pay tax. The government will certainly earn more if they can attract honest citizens to pay taxes, instead of threatening them with fine or penalty.
Would the Hon'ble Finance Adviser and the NBR chairman kindly respond favourably to this request?
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