Staff Correspondent
The government might provide facility again to legalise the undisclosed money to boost up the industrialisation and employment in the wake of global financial recession, hinted the revenue board chairman on Sunday.
‘We want all kinds of money should come into the formal economy,’ Abdul Mazid, national board of revenue chairman, said at a pre-budget discussion with the leaders of the Dhaka Chamber of Commerce and Industry.
His comment came when the DCCI demanded facility to invest the undisclosed money in the country’s industry and share market.
Mazid suggested that the DCCI should come with comprehensive plans on the issue helping the revenue board to devise a proper mechanism for the next fiscal.
The hint by the revenue board chairman made it clear that the present government wanted to change the stand, set by the immediate past interim government on legalising the undisclosed money.
The interim government was against such facility which was being offered since the country’s independence in 1971.
The NBR chairmen said injection of more money into the formal economy had become essential in the wake of global financial recession that would slow the foreign investments by the overseas investors and lenders.
The DCCI team led by its president Zafar Osman submitted some other proposals including rationalisation of value added tax fines, increase of VAT free ceiling for the small and medium enterprises from the existing Tk 2.4 million and retention of lowest amount of VAT for retail shop owners at existing Tk 4,200.
Courtesy of www.newagebd.com
