Finance Minister AHM Mustafa Kamal said that there will be an opportunity to show the undisclosed amount in the budget of the next financial year as well.
He said this while replying to questions from reporters after a meeting of the Cabinet Committee on Economic Affairs and the Cabinet Committee on Government Procurement on Wednesday.
He said there will be opportunities as long as the hidden money does not appear. It is not black money, it is undisclosed money. It has to be done to get our economy back on track. He gave an example and said that the land registration fee is very high, if the transaction was done at the market rate, there would be no undisclosed amount. Because of our system, buyers and sellers now have undisclosed money, so they are at risk.
The finance minister said that the land registration fee is being reduced, earlier the income tax rate was high, nobody paid it. That is why we have gradually reduced the income tax rate, stamp duty. Hopefully, one day invisible money will disappear from our economic system. This process should be continued till the undisclosed amount is not shown.
