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  • Drop black money whitening option: TIB
    Drop black money whitening option: TIB Frontier
    Frontier on Thursday, June 7, 2012
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    Strongly criticising the provision of whitening black money in the proposed budget for fiscal 2012-13 as unconstitutional and immoral, Transparency International Bangladesh (TIB) has demanded its immediate withdrawal.

    TIB Executive Director Dr Iftekharuzzaman, in his reaction to the 4th budget proposal, said, “Allowing the illegal money holders to whiten their black, the tax dodgers have been rewarded instead of punishing them. It also discourages the legal earners and honest taxpayers.”

    “This is an example of political bankruptcy and the helpless surrender of the government to the immoral pressure of the black money holders,” he said.

    Dr Iftekharuzzaman said the Article 20 (2) of the country's constitution strongly stands against the illegal income. The government in its election manifesto in 2008 also said against the illegal income and black money.

    He said this unconstitutional decision goes against the government’s anti-graft stance and commitment for establishing good governance, and it is suicidal for the government just ahead of the coming general election.

    Iftekhar said the government is desperate to raise revenue income on one hand and it is institutionalising the tax dodging opportunity on the other.

    Amid an immense pressure by a vested quarter, the government had given the opportunity to whiten black money in the previous years in the capital market in the name of stimulus packages, Dr Iftekhar said adding that such steps only promote corruption in society.
                               
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