KARACHI: The Federal Board of Revenue on Friday fixed a cash reward for whistleblowing that leads to recovery of evaded taxes at a maximum of Rs5 million.The reward was capped under the new Inland.
Vice-President Venkaiah Naidu. File
Vice-President M. Venkaiah Naidu on January 18 suggested all corporates to encourage whistle-blowing mechanism and provide adequate safeguards for the protection of whistle-blowers.
“I would like to suggest all corporates to consciously encourage whistle-blowing mechanism and provide adequate safeguards for the protection of the whistle- blowers,” he said.
Mr. Naidu, who was delivering the Convocation address at the Institute of Company Secretaries of India (ICSI), stressed on upholding the principles of transparency, integrity and honesty at all times and reflecting them in every business activity.
The modern day company secretary is a true guide of the corporates, protecting the interests of all stakeholders, and more importantly, ensuring adherence to the laws of the land in letter and spirit, he said.
Psychologists have identified the characteristics of 'moral rebels' who make the tough choice to stand up for their principles in the face of negative consequences.