TIB Welcomes Omission of Black Money Whitening Provision in Proposed Budget
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Transparency International Bangladesh (TIB) has offered a cautious commendation to the government for excluding provisions to legalize undisclosed income—commonly referred to as “black money”—in the proposed national budget. Executive Director Iftekharuzzaman stated that the decision signals a positive shift toward the government’s stated commitment to anti-corruption efforts. However, TIB cautioned that similar opportunities have been reintroduced in past finance bills under the guise of stimulating investment or job creation, urging the administration to ensure this unethical practice does not resurface.
According to TIB, the long-standing policy of allowing the whitening of illicit wealth since the country’s independence has fundamentally undermined honest taxpayers and fostered a culture of tax evasion. By permanently closing this loophole, the organization believes the government could establish a critical precedent for fiscal integrity.
বিজ্ঞাপন
Regarding the proposed public sector pay scale, TIB noted that adjusting wages to reflect the rising cost of living is a logical and necessary measure to prevent corruption within the bureaucracy. However, the organization proposed a condition: the new pay scale should only apply to those officials who regularly submit and update accurate declarations of their personal and familial assets.
The watchdog also welcomed the proposed tax exemptions on various essential commodities and services, acknowledging the potential relief for the general public. Yet, TIB emphasized that the government must move beyond rhetorical commitments. Iftekharuzzaman stressed that promised reforms to tax administration—specifically those aimed at enhancing transparency and accountability—must be implemented to ensure that honest taxpayers are spared from systemic harassment.
বিজ্ঞাপন
Addressing the structural challenges of the national economy, TIB highlighted the urgent need to purge the National Board of Revenue of corrupt practices. To transition from a debt-dependent budget to one driven by domestic revenue, the government must aggressively curb collusion and tax evasion among rogue officials.
Ultimately, TIB expressed disappointment over the lack of a clear, actionable roadmap for ensuring good governance during the budget implementation phase. The organization remains hopeful that the government will address these institutional weaknesses and provide a more comprehensive strategy before the budget is finalized.
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