Tk 8.5b undisclosed money legalised in August

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6,136 people have legalised Tk 8.54 billion (854 crore) in undeclared legal income paying Tk 1.45 billion as tax in the first month of the extended period of the National Board of Revenue (NBR) granted opportunity, reports UNB.
NBR, on June 4, declared a two-month period of opportunity for the people who earned money through legal means but did not pay taxes. That deadline expired July 31.
Later, seeing a huge number of people in the queue, NBR extended the opportunity for another two months with the deadline on September 30.
The total amount of legalised money amounted to Tk 24.76 billion in three months until Sunday. 14,695 persons legalised the amount by paying Tk 4.45 billion to the public exchequer as tax.
Under the NBR granted opportunity, the tax-dodgers having tax identification number (TIN) will be able to legalise their income of the last six years, including the just-out 2006-07 fiscal.
On the other hand, the tax-dodgers without having TIN will have to get the number. An eligible assessee will be able to legalise money by paying additional 5.0 per cent tax as penalty along with the normal tax base of that particular period.