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Money smuggled abroad through tax can be brought to the country legally: Finance Minister

  • Financial
  • 29 May, 2022 10:39:04

Photo: Collected

News Desk: There will be an opportunity to bring the money smuggled abroad legally by paying taxes. Finance Minister AHM Mustafa Kamal has said that this issue will be included in the forthcoming budget.

He was responding to a question from reporters after a meeting of the Cabinet Committee on Public Procurement chaired by virtual finance minister AHM Mustafa Kamal at noon on Thursday (May 26).

There is an opportunity to bring back the money smuggled abroad with a certain amount of tax, the minister said, adding, "You will get it in the budget, it will be in the budget." And what Bangladesh Bank is doing, it is doing before the budget. '

Asked if those who have laundered money would want to put their names on the record with taxes, the finance minister said, "Many people in different countries have taken this opportunity. When Indonesia announced such an amnesty, a lot of money was coming back from abroad. We believe that this is a great opportunity for those who have taken our money from here, they will take advantage of it. We have to try our best. "

No documents are required for sending more than five thousand dollars from abroad. Asked whether it would bring in black money from abroad, he said, "We want to know the black money that has remained abroad at different times, from different sources." Many times it is said, what action is being taken against those who have taken money abroad? We have said that the money that has gone abroad should be returned to the country. '

Mustafa Kamal said, "We are trying to do this before the budget. I am thinking of myself. We know that such an initiative will be taken. I don't want to talk about this until the budget is raised in the parliament. When any effective action is taken, it will be from Bangladesh Bank as well. Bangladesh Bank will issue a circular, through which you will know. '

The finance minister further said, "This is an initiative to bring back the money that has gone to various channels." Such amnesty (general amnesty) is given by different countries. But I can't give an idea of ​​how much money has gone. '

Asked if the decision was due to the dollar crisis, he said it was, of course, for the dollar crisis. We need dollars. However, the crisis does not mean that our foreign reserves are good. We are still in a much normal state in the Foreign Reserve compared to the neighboring countries. We have seen such crises before. We saw that in 2001.

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