The National Board of Revenue (NBR) has cancelled the provision, which allowed taxpayers to whiten black money without scrutiny by paying a 15% tax.
The NBR issued a gazette notification on Monday regarding this.
The development comes a few days after Syeda Rizwana Hasan, the environment adviser, told journalists that the interim government would scrap the provision.
On Thursday, the adviser explained that the government had determined that the financial gains from whitening black money were minimal compared to the ethical and societal costs.
Additionally, she confirmed that effective measures against money laundering have already begun.
The previous government had allowed the whitening of black money multiple times as a strategy to boost revenue.
