TIB against provision of legalising untaxed money

The Transparency International Bangladesh has asked the government not to allow illegal money holders to legalise their untaxed money in the budget for next fiscal year.

TIB Executive Director Dr Iftekharuzzaman condemned finance minister AHM Mustafa Kamal’s recent statement on keeping the scope for whitening money in the upcoming budget saying that it will put into question the fairness and equality of taxation.

“During the coronaviruspandemic this will be considered as a new incentive for corrupt people,” he added.

Iftekharuzzaman said that the previous budget withdrew the provision of questioning the source of money possessed by any individualand reduced the difference between legitimately earned money and untaxed ones.

It is now high time to stop the practice of giving people the scope to whiten black money, he said.

Earlier on May 19, the finance minister told media that the scope for whitening black money will be kept as long as undisclosed incomes are there.