The National Board of Revenue (NBR) is set to offer an open-ended opportunity to people to invest their legally earned undisclosed income without any question being asked by taxmen during 2013-14 fiscal year.
The holders of undisclosed money will be allowed to legalise it by investing in any sector, paying 10 per cent penal tax in addition to normal tax rates, sources said.
However, penal tax rates will be imposed on the payable amount as income tax.
A high-powered team of the NBR finalised the fiscal measures Friday in a meeting with Finance Minister AMA Muhith.
The Finance Minister is set to propose the measures in the parliament today (Saturday) for its approval.
Sources said people can formalise their all previously earned income in the upcoming fiscal availing the facilities.
Earlier, the NBR decided to offer the opportunities in productive sectors. As per recent instruction of the Finance Minister, the opportunity for investment of 'black' money will be extended to all sectors.
