Staff Reporter :
A question has arisen across the country: Can former Inspector General of Police (IGP) Benazir Ahmed take advantage of the provision to legalize black money by paying a 15% tax, as included in the proposed budget for the fiscal year 2024-25?
The budget, presented in Parliament on Thursday, includes a provision allowing the legalization of black money by paying a 15% tax. This has sparked concerns about whether individuals like Benazir Ahmed, who allegedly amassed substantial illegal assets, can benefit from this opportunity.
Rumors have spread suggesting that Benazir might use this provision to legalize his ill-gotten wealth with the help of his lawyers. Addressing these concerns at a press conference on Friday, National Board Contd of Revenue (NBR) Chairman Abu Hena Md Rahmatul Munim clarified that Benazir would not be eligible for this facility.
“As Benazir’s case is being investigated under criminal and legal procedures, how can it become legal by paying tax?” the NBR Chairman told journalists at the post-budget press conference held at the Osmani Memorial Auditorium in the capital.
“Our legitimate businessmen face more disadvantages. Due to certain complexities, they are unable to show some assets as legal because of audit issues. This is why we kept this provision,” the NBR Chairman explained.
Responding to another query about the availability of the facility, the NBR Chairman stated that the issue would be settled after discussions in Parliament by lawmakers.
Earlier, the NBR Chairman had noted that if certain assets remain undisclosed due to factors such as negligence in tax return filing or the use of intermediaries, people could take advantage of this provision.
They have been provided the opportunity to legalize undisclosed income by paying a 15% tax.
Additionally, the NBR Chairman mentioned that certain complexities concerning land matters in Bangladesh often result in money or wealth naturally becoming unlawful.
This provision aims to address such issues and provide a legal avenue for individuals to disclose and legalize their assets.