Revenue Target From Black Money Is Still Less

Islamabad -- The traders, industrialists and investors including the people from different segments of society have legalized almost PRe 25 billion [US$349.895 million] of black money, in the current fiscal year 2008-09 after the government announced amnesty scheme for legalizing the black money for paying two percent tax over it. The Federal Board of Revenue [FBR] has received PRe 500 million [US$ 0.699 million] as a tax in this regard.

A credible source from the FBR has informed the daily Express that revenue received in the first month of this fiscal year under the amnesty scheme is quite less than expected. However, the FBR has decided to start a public awareness campaign on a wider scale in this regard in the current month to make this scheme more effective. According to this scheme the people legalizing black money are those who are coming in the tax net or submitting their tax returns the first time. They will have to submit their income tax forms continuously for the next three years.

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THAT IS ENOUHGH.

CBR IS PRESENTING WHAT SOME PERSONS WANTS TO PRESENT...ACTUAL FIGURES WILL BE DIFFERENT

Difference we will than see when all the big "Sharks" are included in the tax (revenue) circle.if there is a system of collecting revenue across the board it can than help our country.As we know through NAB & CBR people were forced & than negotiated with to collect peanuts from the corrupts,most of the cases were made & dealt for the personal interests of few individuals or groups.Moreover NRO have white washed & legalise all corruptions of tthe past.There is now need to compell,convince & to be given incentives to all the corrupts,black marketers & all those having black money.With force we didn,t achieve anything,the best way is to give a save entrance to all such people.If tackle intelligently to convince theese people to atleast re invest all such wealth iin Pakistan.We don,t have other alternative because the system it self & those in the driving seat are theirselves corrupt.We have to get the best out of it.