** 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 **

Scope to whiten black money

29 June 2014

bdnews24.com :
The 2014-15 budget will provide for legalisation of undisclosed income as in previous budgets-something that finance minister had said, would not be the case, when he presented the budget on June 5.
The move comes as no surprise not only because such opportunities were provided in previous budgets but also because powerful lobbies have been active to push for such provisions.
AMA Muhith on Saturday told Parliament that undisclosed income or 'black money' could be invested in real estate by paying a 'certain amount' of tax per square metre of property bought.
He, however, did not elaborate the rate of the tax.
Muhith has been against such provisions for whitening black money, despite many economists suggesting provisions to allow investment of black money in infrastructure.
He has said such provision does not help the economy at all.
In a post budget media conference on June 6, the minister made it clear there was no provision for legalising 'black money' in any sector in the proposed 2014-15 budget.
A day later, a section of economists suggested using black money in infrastructure but under 'strict' monitoring and after observing tight conditions.
The National Board of Revenue chief Ghulam Hussain, too, pitched for 'special investment opportunity' for undisclosed income to keep it in Bangladesh.
Hussain's pitch was echoed by economists who said if not invested in Bangladesh, the black money would find its way abroad.

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