Several researchers of the Center for Policy Dialogue have commented that giving the opportunity to whiten black money cannot be justified.
The researchers said these things in a post-budget press conference organized at the Bangabandhu International Conference Center in the capital on Friday (June 7).
The Executive Director of the organization Dr. Fahmida Khatun said that in the current law of the country, where the tax for honest taxpayers is up to 30 percent, the owners of black money will have the opportunity to pay only 15 percent tax.
They feel that the opportunity to launder black money at subsidized interest is encouraging corrupt people while properly discouraging honest tax payers.
Identifying it as discrimination, he said, only 15 percent tax will be given opportunity. The maximum tax rate is 30 percent, 30 percent for those who earn honestly and pay taxes regularly.
Dr. Fahmida Khatun said, 'What kind of social injustice is this? This is a great injustice to those who pay taxes regularly. Morally, economically it cannot be accepted in any way.
Considering the context of tax collection, there is no justification for giving opportunity to whiten black money, he said, not much tax is collected through this. He also commented that if such measures were successful, the tax GDP rate of the country would not have been so low.
He said, through this system those who evade tax are encouraged and those who pay tax are reprimanded.
Prof. Mustafizur Rahman, Distinguished Fellow of CPD, commented that appeasement of black money owners is completely incompatible with the philosophy of traditional political parties like Awami League.
He said that Awami League's election manifesto had said zero tolerance for corruption, tax defaulters and loan defaulters. There was supposed to be zero tolerance on loans and defaults.
“Whoever defaults on taxes and loans, launders money. Will you bring this money into the mainstream of the economy by bringing this money to the mainstream of the economy, or will you go for Jihad against corruption?" Questioning, he said that owners of legitimate income will pay 30 percent tax and tax evasion and illegally earned money is being taxed only 15 percent, discrimination is being created.
CPD's research director Dr. Khondoker Golam Moazzem has identified the issue of giving the opportunity to whiten black money as an incentive system.
He said that the government currently does not have any instrument to automate black money. If the integrated financial system is not introduced, such incentives, incentives, and opportunities to whitewash are not of much use.
He said, unfortunately, the fiscal policy of Bangladesh has now become a policy based on individuals and groups. All these issues have a major impact on revenue collection.