People in independent positions gaining illicit enrichment: Nazim

Deputy Speaker Ahmed Nazim today alleged that certain leaders of independent institutions and individuals in independent roles are engaging in illicit enrichment and hiding their assets.

Nazim made these comments while talking in today's debate in parliament on the bill of amendments to the Tax Administration Act which would, in effect, give broader powers to MIRA on responding to tax evasion.

Nazim claimed that some in independent positions are spreading their wealth amongst family members and relatives in an attempt to conceal their gains.

Nazim commended the inclusion of a clause requiring members of MIRA to submit financial statements. He said that it is necessary to require financial statements to be submitted by all in independent positions.

The Deputy Speaker that many of the cases that come to the attention of the parliament also show illicit enrichment, through which apartments are bought and registered under different names in a bid to conceal it.

He said that the currently proposed amendments to the law is a positive step towards preventing such ongoings.

Nazim said that the last administration had deferred MVR 9 billion in taxes owed to the government, as well as forgiving taxes. Although these actions were taken to improve the economy, it was not done in a transparent manner, he said.

He said that the proposed amendments would ensure that such measures are taken in a responsible and transparent manner.