Tax holiday facility may be extended, says adviser
The government may extend tax holiday facility to industries for another one year or two, said Finance Adviser Mirza Azizul Islam yesterday.
He also said the government will consider legalising undisclosed money earned from legitimate sources in the next fiscal year but there will be no scope for making black money white.
"We will have no consideration for money from illegal sources but legally-earned money that somehow remained undisclosed might get opportunity," Mirza Aziz said, adding that the government is thinking about re-fixing the rate of fines for legalising undisclosed money.
The adviser was speaking at a pre-budget meeting with editors of print and electronic media.
He said the existing power of tax officials will be curtailed more in the next fiscal year to ensure hassle-free tax collection.
National Board of Revenue (NBR) Chairman Muhammad Abdul Mazid and President of FBCCI Annisul Huq were also present.
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