Eliminate scope to whiten black money

The Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) yesterday demanded the abolishment of a provision that allows black money to be whitened without scrutiny by paying a 15 percent tax.
The apex trade body voiced the demand during a meeting with Md Abdur Rahman Khan, newly appointed chairman of the National Board of Revenue (NBR), at Sher-e-Bangla Nagar in Dhaka, according to a press release.
“There cannot be any discrimination between honest and corrupt taxpayers. This type of amnesty should never be given again to ensure justice and remove social discrimination,” said FBCCI President Mahbubul Alam.
Such a provision can never be desired when building a corruption-free society or state, he added.
Other members of the delegation included FBCCI Vice-President Md Munir Hussain and Directors Mohammad Fayazur Rahman Bhuiyan, MA Razzak Khan, and Abul Kasem Khan.
On his first day in the NBR office, Khan told reporters that the scope to whiten black money should not exist at all
“The amnesty for black money is unexpected and indecent,” he said.
Alam also called on the NBR chairman to simplify customs duty processes for imported goods to ensure a business-friendly environment by removing complexities related to duty values, HS codes and product descriptions.
They further urged him to curb the harassment of taxpayers during audits and dishonest practices by officials.
To this end, they proposed creating a hotline, app or complaint centre for businesspeople that face harassment.
They also suggested that taxation should be automated, including the management of value-added tax (VAT) and income tax, and ensuring speedy implementation of the National Single Window (NSW).
Alam also emphasised the need to bring eligible taxpayers under the income tax net to increase the nation’s tax-GDP ratio.
He added that the NBR needed reforms. In particular, it is important to separate policy and policy implementation, he said.
Appreciating the NBR’s plan to review the existing tax rules by forming three task forces, the businessmen requested that all stakeholders concerned be included as members.
The new NBR chairman told businessmen that the participation of private sector stakeholders in the task forces, including from the FBCCI, would be ensured.
“We’ll try to ease the business environment in the country. The NBR will remain alert so that there is no injustice against businessmen,” Khan added.
He also urged businesspeople to provide specific information about dishonest officials and conduct commercial activities sincerely.