hidden asset

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hidden asset

n. an item of value which does not show on the books of a business, often excluded for some improper purpose such as escaping taxation or hiding it from a bankruptcy trustee. However, there may be a legitimate business reason for not including all assets on a profit and loss statement.

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Islamabad -- Mohammad Naveed, Senior Vice President, Islamabad Chamber of Commerce and Industry has called upon the government to focus on introducing separate tax amnesty schemes for local and foreign Pakistanis that would enable them to declare their hidden assets and bring more capital within the country for business and investment activities.
However, many Pakistanis living within the country and in foreign countries were possessing hidden assets and money that could be brought into the mainstream economy by offering separate amnesty schemes.
He ordered that PS8,200 in hidden assets be confiscated and paid in compensation to Mr and Mrs Bukhara within three months.
A long-term remedy, issuing e-coins or e-currency can help such corruption-hit countries as India and Pakistan to control black money, eradicate corruption and encourage the general public to disclose their hidden assets to the government.
The Election Tribunal had declared elections void and ordered re-polling in the constituency on the plea filed by Khawaja Daud Sulemani, an independent candidate, who had alleged that his opponent concealed her property and hidden assets.
Grilled about Wintris, he initially blamed his wife then got up and tried to leave, saying: "I have never hidden assets.
He then got up and eventually left, saying: "I have never hidden assets.
Barber's bankruptcy was thrown out because the judge determined that he had hidden assets from creditors.
But a judge accepted there was nothing to prove that Child, of Cardiff, had any other hidden assets.
These nations include countries where US citizens have traditionally hidden assets.
Within every company, there are numerous hidden assets - some more valuable than others, but for the most part the most important asset lies in the management team that will remain with the business post-deal.
For the council is a repository of hidden assets greater than those of many landed families.