Black money: CPD for breaking vicious circle of illicit income
Publish- February 02, 2021, 09:08 PM
UNB NEWS - UNB NEWS
Speakers at a webinar on Tuesday said only providing chance to whiten black money will not benefit the country’s economy unless the vicious circle of illicit income is broken.
They said revenue collection needs to be increased as the government’s expenditure increased due to COVID-19 pandemic. There is a special need for political commitment, social movement, transparency of information and political leadership to increase tax collection as a whole and ensure economic development.
Former member (Customs Policy) of NBR Md Farid Uddin said the lack of good governance is the reason behind the black money. “The role of political leadership is significant to prevent black income,” he added.
On the other hand, member of NBR (Customs policy) Md Alomgir Hossain said providing black money whitening facilities through special tax benefits will help the overall economic development.