NBR drive to trace foreign money launderer

Rtv online report

19 Apr 2018, 00:00

When Bangladesh expatriates are sending thousands of crore taka in the country through legal means then the foreigners living in the country are taking away huge amount of money.

Follow Rtv Online English on Google news

According to the US based Pew Research Center, foreigners living in Bangladesh are taking away 201 crore dollars per year to their respective countries. In Bangladeshi currency it stands at around 16 thousand 670 crore taka.

Foreigners have taken away this amount of money from the country in the year 2016. The foreigners sent the money to their respective countries such as, China, Indonesia, Malaysia, India, United States, Vietnam, Nepal, Thailand, Japan, Norway, United Kingdom, Myanmar, Brazil, Laos and Cambodia.

But in return how much money the government is getting?

According to the government calculation, 85 thousand 486 foreigners are working in the country. These foreign nationals are working in readymade garments and other export oriented sectors in Bangladesh.

According to the information provided by Home Minister Asaduzzaman Khan Kamal in the parliament in February last, half of the foreigners living in Bangladesh are Indians. The number of Indians is 35 thousand 386. Then the number comes from Japanese which is 4 thousand 93. Then the number of Koreans 4 thousand 93, Malaysians 3 thousand 395 and Sri Lankans 3 thousand 77 who are working in Bangladesh. There are also a good number of foreign citizens from Thailand, United Kingdom, United States, Germany, Singapore and Turkey who are working in the country.

National Board of Revenue (NBR) is saying that of them 13 thousand people submit income tax return. NBR is going to operate drive from next week against them who do not give tax and send money to their country illegally.

NBR Chairman Md. Mosharraf Hossain Bhuiyan said, we want to bring them under tax culture. A good number of foreigners are working in Bangladesh under tourist visas. We will look into the matter so that it would not happen.

Generally foreigners have to pay 30 percent tax from their income.

Mosharraf Hossain said, those who have to pay double taxation, we will give some benefits to them. According to our agreements with certain countries, the concerned nationals should not have to pay tax in their countries if they pay the tax here. If they pay tax in their countries then they need not to give tax in Bangladesh.

Comments

Most Viewed News Of Economy

Bribery, corruption main barriers to promote business in Bangladesh: US report

The '2024 National Trade Estimate Report on Foreign Trade Barriers' published on March 29 identified barriers to government procurement, intellectual property protection, digital trade, investment and labour rights in Bangladesh. According to the NTE report published by United States Trade Representative Catherine Tai, the United States faces several obstacles in doing business with Bangladesh. Bangladesh faces obstacles in the export of goods and services, foreign direct investment and e-commerce. NTE reports have been published regularly since 1985. This year's NTE report highlights significant foreign trade barriers in 59 markets. According to the report, corruption is a widespread and chronic problem in Bangladesh. And the implementation of anti-corruption laws is not enough. It also said that bribery and extortion are common in commercial transactions despite bribery transactions and gifts being illegal. US companies have also complained that they are forced to pay bribes to get licenses. The report also mentions that the government has tried to weaken the anti-corruption rules in procurement. According to the report, US companies have complained that it takes a long time to get licenses and tenders approved because government officials in Bangladesh demand bribes.

Export earnings rise 10% in March

The export of goods valued at $5.10 billion in March this year. Export earnings increased by about 10 percent. This information was revealed in the updated report of the Export Promotion Bureau (EPB) released on Tuesday (April 2). However, The earnings from exported goods fell short of the export target form the last month by 0.88 percent. In the first nine months (July-March) of the current fiscal year, overall exports worth $43.55 billion, which is 4.39 percent higher than the same period of the previous year, according to the EPB data. Meanwhile, export earnings in readymade garments, agriculture and plastic sectors have increased. In the nine months of the fiscal year, export earnings in the readymade garment sector increased by about 5.5 percent.

LPG price cut by Tk 40 for 12 kg cylinder

Bangladesh Energy Regulatory Commission (BERC) has reduced the price of a 12-kg cylinder of liquefied petroleum gas (LPG) by Tk 40 at the retailer level. The newly fixed price of LPG is Taka 1,442, which was Taka 1,482. BERC Chairman Nurul Amin announced the new price at a press conference on Wednesday (April 3) noon. The new prices will be effective from 6 pm. Meanwhile, On March 3, the price of LPG was increased at the consumer level for the eighth consecutive month. Earlier On February 4, the BERC raised the price of a 12-kg cylinder by Tk 41 to Tk 1,474.

BASIC Bank to merge with City Bank

This time, BASIC Bank will merge with City Bank. This decision was taken in a meeting held at Bangladesh Bank on Monday. The decision was taken at a meeting held at Bangladesh Bank on Monday (April 8). The meeting was held between Bangladesh Bank Governor Abdur Rauf Talukdar and City Bank Chairman Aziz Al Kaiser along with Managing Director (MD) Mashrur Arefin. Earlier on March 19, City Bank's board was advised to merge BASIC Bank. Then the matter was discussed between the boards of City and BASIC Bank. According to some sources, even if the two banks are merged, they will report separate financials for the next three years.

Gold prices hit a record high

Gold prices creating records one after another in the world market. The price of this precious metal is constantly increasing. For the first time in history, gold prices rose above $2,400 per ounce to an all-time high on Friday ( April 12). Earlier, on April 5, gold prices crossed $ 2,300 an ounce for the first time in the world market. Just seven days later, on Friday, the price exceeded $ 2,400. Which is the highest in the world market. Experts had expected the price of gold to exceed $ 2,300 per ounce this year. It has already exceeded. The price of gold will increase further. Economist Mahfuz Kabir said that the price of gold is increasing in the world market mainly due to the Federal Reserve's indication of reducing interest rates and geopolitical tensions. When interest rates fall, people choose gold as a medium of investment. As a result, the price surges. Gold is now being sold at the highest price in the world market. This price may increase further.

Bottled Soybean oil prices raised by Tk 4 per litre

The price of bottled soybean oil has been hiked by Tk 4 on the other hand the price of loose soybean oil reduced by Tk 2 per litre. State Minister for Commerce Ahasanul Islam said this at a press briefing at the secretariat on Thursday (April 18). According to the new decision, price of bottled soybean oil hiked to Tk 167 from Tk 163 per litre. The State Minister said that the price of loose soybean oil has been reduced to Tk 147 from Tk 149 per liter. However, the price of bottled soybean oil has been increased from Tk 163. This price will be effective from tomorrow. Earlier, on Monday Bangladesh Vegetable Oil Refiners & Vanaspati Manufacturers proposed the government to raise the price of soybean oil by Tk 10 to Tk 173 per liter.

Gold prices slashed by Tk 3,138 per bhori

Bangladesh Jeweller’s Association (Bajus) has reduced the price of gold after three consecutive hikes this month. The price of gold has been reduced again in the country's market after three days of fixing the new price. The price of 22 carat gold has been reduced by Tk 3,138 per bhori (11.664 grams) and the new price has been fixed. The price of per bhori of good quality gold (22 Carat) is 1 lakh 16 thousand 290 taka. The decision was taken at a meeting of the Bajus Standing Committee on Tuesday (April 23). This information was given in a notification signed by the chairman of the committee Masudur Rahman. Bangladesh Jewelers Association has fixed the new price of gold considering the overall situation, said Masudur Rahman However, the price of 21 carat gold has been reduced by Tk 3,009 to Tk 1,10,995.

NBR drive to trace foreign money launderer

Bribery, corruption main barriers to promote business in Bangladesh: US report

Export earnings rise 10% in March

LPG price cut by Tk 40 for 12 kg cylinder

BASIC Bank to merge with City Bank

Gold prices hit a record high

Bottled Soybean oil prices raised by Tk 4 per litre

Gold prices slashed by Tk 3,138 per bhori

Trump's attempt to delay hush money trial fails

Saudi Arabia's thriving startup scene driven by women

Australian Writer's Case Highlights Risks Foreigners Face in China

US: New York judge says Trump hush money case will proceed