The matter has become a legal question now, says Muneem
Published : 08 Jun 2024, 01:58 AM
Amid criticism of the inclusion of controversial provisions for 'whitening black money' in the new budget, NBR Chairman Abu Hena Md Rahmatul Muneem has said former inspector general of police Benazir Ahmed will not be able to legalise his 'illegally acquired assets'.
Finance Minister Abul Hassan Mahmood Ali proposed a budget of Tk 7.97 trillion for the fiscal year 2024-2025 in parliament on Thursday, which included the opportunity to legitimise undisclosed income by paying a 15 percent tax without facing questions.
The day after presenting the budget, he held a press conference at the Osmani Memorial Auditorium in the capital following the tradition. Ministers, state ministers, and secretaries from various departments attended it. They responded to journalists' questions and elaborated on various issues.
There, a journalist asked if people like the former IGP, after paying a 15 percent tax, will be able to whiten their black money.
The NBR boss responded by saying: “The matter of Benazir Ahmed's assets has now fallen under criminal (legal) proceedings. Whether his assets can be legitimised by paying the 15 percent tax is now a legal question.”
News of the former IGP’s vast ‘illegal’ assets surfaced in the media at the end of March, after which the matter went to the High Court, and the Anti-Corruption Commission, or ACC, began investigations. The court ordered the seizure of Benazir’s assets and freezing of his bank accounts.
As part of the investigation, the ACC also summoned Benazir, his wife, and two daughters for questioning. However, it has been reported in the media that the former IGP has already left the country with his wife.
NBR’s Muneem said, “In this case, how the assets can be legitimised by paying taxes is a legal question. We do not want to look at it so broadly. People might have some undisclosed assets for various reasons. We have proposed this to allow for the legitimisation of such undisclosed money.”
In the upcoming fiscal year's budget, the proposal has been made to increase the normal tax rate for individuals to a maximum of 30 percent.
The rule allows for the legitimisation of undisclosed income by paying additional fines after regular taxes. This time, the opportunity to legalise undisclosed income by paying a 15 percent tax has been included. The finance minister also mentioned amending the income tax law to incorporate this issue.
He said regardless of what other laws may exist, no agency, department, or ministry will be able to question this money in the future.
Another journalist asked how people in high positions in the government and administration, like Benazir, managed to evade the eyes of the investigators and reach such a level.
The Prime Minister's Economic Affairs Advisor Mashiur Rahman said, “Action will be taken according to the law of the land regarding Benazir Ahmed. As a citizen of the country, he will be granted the rights he is entitled to.”
He noted that the ACC is conducting the investigation and said Benazir has asked for time to appear before it for questioning. He has been granted time.
The Centre for Policy Dialogue, or CPD, also held a briefing earlier on Friday to give its reactions to the budget, where the issue of Benazir was brought up.
Journalists highlighted the concern of whether corrupt individuals would get a pass by paying taxes on assets acquired through corruption and irregularities.
In response, CPD’s distinguished fellow Mostafizur Rahman said, “For the first time, a provision is being added to the income tax law stating that no organisation or institution can question or take any action regarding the legitimised undisclosed income in the future.”
He questioned whether this would apply to the ACC as well and said, “This discourages good governance and encourages tax evasion.”