** People rescuing an injured passenger from inside a passenger bus hit by a truck on Dhaka-Mawa Expressway in Shologhar area of Shreenagar upazila in Munshiganj on Thursday. ** Motorcycles allowed on Padma Bridge after 10 months ** Commuters charge extra fare, passengers disappointed ** 78 people killed in Yemen stampede ** Moon sighting committee meets today to ascertain Eid day ** 9 killed in road accidents in 3 districts ** US announces new $325 m military aid package for Ukraine ** Eid-ul-Fitr in Saudi Arabia today ** Eid exodus begins ** LPG price cut illusive ** 15 hurt as bus overturns in capital ** New interbank cheque clearing timings set for Eid holidays ** Four women hit by a train die in Tangail ** 12.28 lakh SIM users left Dhaka on Tuesday ** Sylhet engineer threatened over power outage ** People rush to village homes to spend Eid holidays with their near and dear ones. This photo was taken from Sadarghat Launch Terminal on Tuesday. NN photo ** Surge in cases of dehydration, diarrhoea amid summer heat wave ** Padma Bridge construction cost increases by Tk 2,412cr ** PM gives Tk 90m to Bangabazar fire victims ** Textile workers block highway demanding wage, Eid bonus ** Attack on PM's motorcade Ex-BNP MP, 3 others get life term ** Load-shedding increases for demand of electricity during heat wave ** Motorbikes to be allowed on Padma bridge from Thursday ** 5-day Eid vacation begins from today ** Take Nangalkot train accident as a warning about negligence of govt functionaries **

NBR favours legalising untaxed money

03 May 2014

bdnews24.com :
The National Board of Revenue chief thinks 'special opportunity' should be given in investment of undisclosed money, widely called 'black money', to keep it in Bangladesh.
Chairman Ghulam Hussain argued on Wednesday that there were fears that undisclosed money will be siphoned off unless opportunity was given to invest it in the country.
"To prevent it from happening, undisclosed money has to be channeled to investment. And for that, special opportunity has to be given on condition that the money will be taxed."
Hussain was speaking at a pre-budget meeting with the Economic Reporters' Forum in the capital.
He said rich countries, specially the USA, Canada, Malaysia and Singapore, were allowing investment of undisclosed money from other countries.
"In such a situation, if we don't give the scope for investment of undisclosed money in our country, the money might be siphoned off to those countries."
The revenue board chief said nobody would be interested in showing their undisclosed money if they had any fear of being jailed.
"That's why progressive and courageous initiatives are necessary."
Hussain said the rate at which investment of undisclosed money could be taxed may be discussed.
Income Tax Ordinance provides for investment of undisclosed money on payment of a certain rate of taxes, but no sizable amount has been invested in the current fiscal.
ERF President Sultan Mahmud, General Secretary Sazzadur Rahman and NBR Members Farid Uddin, Jahangir Hossain and Syed Aminul Karim were present at the meeting.

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