Muhith gives new money-whitening formula
June 21, 2009
Finance Minister AMA Muhith today gave a new formula to whiten money saying both black money holders and honest taxpayers could be allowed to invest in specific sectors at a flat rate of tax.
“If the idea becomes popular, it could be followed in future,” he told reporters after a post-budget meeting with leaders of the Foreign Chamber of Commerce and Industry (FCCI) at the finance ministry.
The finance minister said if the tax rate is fixed at 20 percent for investing in some specific sectors and the honest taxpayers have already paid tax at a rate of 30 percent, the latter category of people will get back 10 percent of the money.
Source: thedailystar.net
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