Benazir will not be able to whiten black money:  NBR chairman

There is an opportunity in the proposed budget to legalise black money through paying a 15 percent tax on cash, bank deposits, financial securities, or any other forms of wealth. But Benazir Ahmed, former inspector general of police, will not get the opportunity to whiten undisclosed income as his matter is now under court jurisdiction.

Chairman of the National Board of Revenue (NBR) Abu Hena Md Rahmatul Muneem said this at a post-budget press conference at Osmani Memorial Auditorium in the city on Friday.

The opportunity to legalise black money was introduced due to the demand of the businesses. The NBR came to know that some businessmen could not show their assets on tax files due to audit-related issues. That's why we proposed introducing it, he said.

Finance Minister Abul Hassan Mahmood Ali in the budget speech said incidentally the introduction of a data verification system has created legal complications over the disclosure of undisclosed income and assets of various companies.