TIB raps move to give amnesty to bringing it back

The TIB on Monday expressed concern over the government's announcement of giving an opportunity to bring back the siphoned-off money in the form of remittances and with incentives.
It is unethical and will further patronise money laundering, the Transparency International, Bangladesh (TIB) criticised in a statement, terming such an initiative as conflicting with the law.
There is little chance to get expected results from such an amnesty, it further said.
In the wake of the foreign exchange crisis, TIB said the government has announced that it would consider the repatriated money as remittances or income of expatriates.
In this case, the money launderers will also get 2.5 per cent incentives that the expatriate Bangladeshis receive upon sending their income to home.
At the same time, the finance minister has hinted that returning the laundered money by declaring immovable and movable assets acquired abroad likely to be legalised in the upcoming budget with a small fine, or giving a 'tax amnesty'.
Providing such opportunities is not only immoral and completely contrary to the 'zero tolerance' policy of the government against corruption, but also unconstitutional, the statement said.
On the other hand, it added, the expectation of getting back the money through this process is not possible in reality.

arafataradhaka@gmail.com