[🇧🇩] Corruption Watch

[Saif]

‘Indulging in Graft’: ACC to make list of those who aided Benazir

An Anti-Corruption Commission (ACC) investigation team is now making a list of police officials, land officials, politicians, and others who aided and abetted former inspector general of police, Benazir Ahmed, in committing corruption.

www.thedailystar.net

'Indulging in Graft': ACC to make list of those who aided Benazir

An Anti-Corruption Commission (ACC) investigation team is now making a list of police officials, land officials, politicians, and others who aided and abetted former inspector general of police, Benazir Ahmed, in committing corruption.

Once the list is made, the ACC will quiz the individuals.

The sub-registrars of Dhaka, Gopalganj, Madaripur, and Gazipur land offices are likely to be among them, as Benazir and his family own properties in those districts.

A high official at the ACC requesting anonymity told The Daily Star, "Benazir committed corruption with the assistance of many individuals, as it would not have been possible to indulge in corruption to such extent alone. Most of his aides are police personnel."

The official said, "Some police officers even co-own some of Benazir's properties, like the Bhawal Resort in Gazipur."

These individuals reaped benefits when Benazir was the Dhaka Metropolitan Police commissioner, director general of Rab, and the IGP.

The ACC investigation team found that Benazir bought many pieces of land at prices much lower than the market value.

A list of sub-registrars who helped Benazir is being prepared, sources said.

ACC Chairman Mohammad Moinuddin Abdullah told The Daily Star yesterday, "Our investigation team is completely independent.

To read the rest of the news, please click on the link above.​

 

[Saif]

Withdraw provision to legalise black money: TIB

Transparency International Bangladesh (TIB) today expressed shock and disappointment over the “unethical provision” in the newly announced budget that allows the laundering of black money disguised as undisclosed income

www.thedailystar.net

Withdraw provision to legalise black money: TIB

Transparency International Bangladesh (TIB) today expressed shock and disappointment over the "unethical provision" in the newly announced budget that allows the laundering of black money disguised as undisclosed income.

TIB fears that the facility to legalise black money with just a 15 percent tax will discourage honest and legitimate taxpayers, as no authority will question the money and assets declared under this provision, according to a press release of the organisation.

"This will foster a liberal environment conducive to corruption in the country," it said.

Furthermore, this opportunity undermines the ruling party's election manifesto and its frequently reiterated pledge of zero tolerance against corruption.

"In light of these concerns, TIB is strongly demanding that the government withdraw this provision allowing the laundering of black money," it added.

TIB Executive Director Iftekharuzzaman expressed frustration over the logic behind keeping the provision to whiten black money.

He also expressed disappointment at how the Data Verification System (DVS) has resulted in legal complexities regarding the declaration of undisclosed money, leading to the legitimization of property purchases using such funds, primarily due to taxpayers' lack of awareness.

"Even more troubling is that no authority will have the opportunity to question these transactions," he said.

To read the rest of the news, please click on the link above.​

 

[Saif]

Whitening Black Money: ‘Unethical, unjust and unacceptable’

Backtracking on its promise to eliminate black money, the government has once again made room to allow both individuals and companies to whiten money without facing scrutiny and by paying a 15 percent tax, a move that drew sharp criticism from economists and civil society.

www.thedailystar.net

Whitening Black Money: 'Unethical, unjust and unacceptable'
Economists blast the provision

Backtracking on its promise to eliminate black money, the government has once again made room to allow both individuals and companies to whiten money without facing scrutiny and by paying a 15 percent tax, a move that drew sharp criticism from economists and civil society.

The government hopes the initiative will increase the flow of money into the economy despite such measures failing to yield any fruitful benefits in the past.

According to the new provision, no authority can raise any question if a taxpayer pays tax at fixed rates for immovable properties such as flats and land and 15 percent tax on other assets, including cash, irrespective of the existing laws of the country.

The scope to whiten black money will remain in place till June 2025.

Before the last national election, the Awami League's election manifesto promised strong measures against those hoarding undisclosed money as well as those engaged in corruption.

But economists and corruption watchdogs said that successive governments allowing the whitening of black money was akin to "licencing corruption".

"This scope shouldn't be allowed at all," said Prof Mustafizur Rahman, a distinguished fellow at the Centre for Policy Dialogue, a think tank. "It's unacceptable, ethically and financially."

To read the rest of the news, please click on the link above.​

 

[Saif]

Tax measures to take toll on honest, relieve errant

Finance minister Abul Hassan Mahmood Ali on Thursday announced a series of measures, including reintroducing scope for legalising undisclosed money by paying tax at a...

www.newagebd.net

Tax measures to take toll on honest, relieve errant
Shakawat Hossain 07 June, 2024, 00:23

Finance minister Abul Hassan Mahmood Ali on Thursday announced a series of measures, including reintroducing scope for legalising undisclosed money by paying tax at a flat 15 per cent rate in the new national budget worth Tk 7.97 lakh crore.

Besides, the finance minister declared an expansion of Value Added Tax and cut income tax rebates to augment higher revenues and keep the budget deficit within a tolerable level as per the dictation of the International Monetary Fund under the $4.7 billion loan programme.

It was the first budget of the 82-year-old diplomat-turned-finance minister, who was under pressure to bring back macroeconomic stability amid a shortage of dollars and high inflation.

However, his measure to withdraw tax waivers from industries like air coolers and refrigerators and the imposition of a higher tax on juices and ice cream, electric bulbs, etc will force manufacturers to pass on the extra cost to consumers already reeling from decade-high inflation.

His expansionary tax measures will increase the living costs of the majority of people, while the affluent section will remain almost unharmed with an unchanged wealth surcharge.

The finance minister identified inflation as the main challenge for FY25.

His announcement of the expansion of the social safety net programme by increasing the number of beneficiaries and the continuation of subsidised food distribution has been welcomed by the economists, as they will continue assisting vulnerable groups amid prolonged economic distress.

To read the rest of the news, please click on the link above.​

 

[Saif]

PM defends budgetary proposal for whitening black money

Prime Minister Sheikh Hasina today supported the budgetary provision for legalising black money saying that it should be brought to the legal network first

www.thedailystar.net

PM defends budgetary proposal for whitening black money

Prime Minister Sheikh Hasina. Photo: PID

Prime Minister Sheikh Hasina today supported the budgetary provision for legalising black money saying that it should be brought to the legal network first.

"The money should be allowed to come to the appropriate place (the banking channel) first with payment of a nominal amount of money (tax) and then they will have to pay tax regularly... If you go to catch fish, you need to provide feed," she said.

The premier was addressing a discussion arranged by Awami League at its office in Dhaka's Tejgaon area, marking the historic Six-point Day.

Talking about the scope for whitening black money, the prime minister said many raised questions regarding black money and argued that it would discourage legal tax prayers.

She said it's not right, rather the fact is the prices of everything went up and the owner of one katha land is a millionaire (kotipoti). But no one sells land at the government rate. They sell it at higher prices. So, they keep the surplus money received from the sale of land outside the banking network, she added.

The PM said the last budget during the BNP regime was of Tk 62,000 crore and that during the caretaker government was Tk 68,000 crore whereas her government has been able to place the budget of Tk 797,000 crore this time.

"This budget has focused on some basic demands and attached the highest priority to education, health, agriculture and local industries and social safety to ensure the basic rights of the people," she said.

Talking about the worldwide high inflation, the PM said the people with limited income are suffering due to Inflation. "But we've introduced family cards for the limited-income people so that they can purchase several essential commodities like rice, pulse and edible oil at fair prices. We're providing food to those who are extremely poor," she said.

Besides, the government has been providing financial assistance to the people under some 150 social safety programmes, providing free textbooks to school students, and providing the people with some 30 types of free medicines from the community clinics.

To read the rest of the news, please click on the link above.​