The think tank Action for Economic Reforms (AER) yesterday said the proposed tax reform package 1B, which included tax amnesty, would be “pointless” if it would nobin pickingt include the relaxation of the bank secrecy law.
“Excluding the waiver of the bank secrecy law in the proposed tax amnesty bill, which is currently being discussed in the Senate, will result in a toothless law as tax evaders who apply for amnesty will be able to under declare taxable assets without the government knowing any better,” the AER said in a statement.
Besides relaxing the bank secrecy law, the AER is also pushing for the institutionalization of reforms in tax administration and collection to “prevent harassment and curb abuses of discretion by the Bureau of Internal Revenue.”

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