NBR gets Tk 86.6m tax from 141 undisclosed money holders

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FE Report
The National Board of Revenue (NBR) received income tax worth Tk 86.6 million from 141 undisclosed money holders across the country until Saturday, the last day of the fiscal 2006-07.
The tax, including penalties, was received from the individuals in response to the government's recent offer on legalisation of untaxed money earned through fair means, by July 31.
Of the total 86.6 million, the NBR received tax worth Tk 20.05 million from 12 persons of Khulna region, Tk 13.4 million from 32 persons of Sylhet region and Tk 12.5 million from two persons under a tax zone in the capital.
On June 4, the NBR issued a statutory regulatory order (SRO) giving the facility to legalise undisclosed income until July 31 next by paying 5.0 per cent penal charge in addition to normal rate of tax.
Under the facility, anyone who had failed to disclose part of their individual income made through fair means in the tax return in a particular year will be allowed to legalise the same.
Initially, the government received poor response from the undisclosed money holders as the NBR received statements of undisclosed money worth only Tk 5.4 million from 13 individuals until June 22.
But, the board is now getting positive response from individuals to legalise their untaxed money.