The New Nation - Internet Edition

UNB, Dhaka

National Board of Revenue (NBR) Chairman Muhammad Abdul Mazid yesterday urged all to disclose their undisclosed money earned by legal means to avert future hassle.

He made the appeal at a view-exchange meeting with doctors at Dhaka Medical College (DMC) auditorium. Tax Commissioner Rahela Begum presided over the meeting.

"If anyone evaded tax he or she will be questioned by several government agencies in near future for this," the NBR Chairman said.

Currently, the government is allowing the undisclosed money holders to disclose their wealth earned by legal means and this opportunity will continue till October 31.

Holders of undisclosed money earned through legal means would have to pay 7 percent in addition to their due taxes under the ongoing opportunity.

This is the second time that the nonparty caretaker government is offering such opportunity.

Abdul Mazid said that each year his organization has to file cases on three grounds-for tax evasion, fake wealth statement and for hiding wealth information.

He also informed the doctors that NBR is thinking to fix the VAT amount for doctors. At present the doctors are paying VAT at the rate of 4.5 percent based on their fees.

"This is a matter of examination as we have to look if there any complexity in the process," he said adding, "But I can assure you that we will reform the process after discussing with you."