Monday, September 24, 2018 | ePaper

Civic groups call for stopping capital flight

  • Print
UNB, Dhaka :
Speakers at a human chain proramme on Wednesday urged the government to emphasize on income tax instead of VAT (Value Added Tax) for revenue mobilization and implementing 2018-19 national budget.
They raised voice on inefficiency of bank sector and demanded to strengthen central bank to stop capital flight and ensure governance in financial Sector.
Twenty right based civil society networking organizations (CSOs) coordinated by EquityBD organized the human chain in front of the National Press Club in the city on Wednesday.
Md. Ahsanul Karim of EquityBD read out key demands in the programme moderated by Mostafa Kamal Akand, Networking Coordinator of the same organization. Among others, Badrul Alam from Bangladesh Agriculture Federation, Jayed Iqbal Khan, Syed Aminul Hoque from COAST Trust and Rezaul Karim Chowdhury from EquityBD spoke in the event.
Md. Ahsanul Karim demanded to increase corporate tax as direct tax rather than VAT as indirect tax and also to increase the minimum tax free income from Tk 2,50,000 to Tk 3,50,000.
He also recommended for strengthening central bank to establish governance in financial sector as well as to establishing central bank control over the banks and forming a strong bank commission to save people money.
He demanded publication of white papers of Bangladeshi's in Malaysia 2nd Home Program as well as publication of white papers and report on stock exchange debacle, plundering of money from public banks, and Bangladesh Bank money heist.
Syed Aminul Hoque said that revised VAT slab will increase VAT rate and increase burden for poor because they enjoy these lower slab of VAT. Failing to collect income tax from trade and big economic activities, government banked on poor for revenue which is an injustice, he added.
M Rezaul Karim Chowdhury said that Finance Minister did not keep his commitment in respect to setting up a neutral and a strong bank commission thereby helping the bank owners to plunder more public money from banks
He also said that due to reduce bank corporate tax of 2.5%, government will lose about Tk 100 crore as extra revenue which will indeed make the bank owners more rich.
Md. Badrul Alam said that government has reimbursed more than Tk 10,000 crore as capital refilling from 2006 to 2017 to the state-run banks who are suffering from capital deficits because of corruption mostly done by the different companies (Hallmarks, Bismillah Group, Crescent Leather, etc) and supported by politically appointed directors of those banks.
Kader Hajari of Arpan said that government is heavily relying on VAT collection which is 33.7% excess target than FY 2017-18.
He also mentioned that government has emphasised on collecting income tax from individuals rather than corporates. It is about 58.4% excess target set out for individual income tax whereas the corporate tax is set 15.9% higher than that of the FY 2017-18. The government has not enhanced tax free income level and it will create extra burden for middle income earning people and the poor, he added.

More News For this Category

5 more killed in road accidents

Staff Reporter :At least five people, including a police and a schoolteacher, were killed and several others injured in separate road crashes across the country on Monday.In Magura, two

Supporters of Maldivian joint-opposition presidential candidate Ibrahim Mohamed Solih celebrate on the street at the end of the presidential election day in Male on Monday.

Supporters of Maldivian joint-opposition presidential candidate Ibrahim Mohamed Solih celebrate on the street at the end of the presidential election day in Male on Monday.

.

Preliminary handover of Bangabandhu Satellite done

BSS, Dhaka :Bangladesh's first geostationary communication satellite Bangabandhu-I handed over preliminarily on Monday by the French manufacturing company Thales Alenia Space to the telecom regulator's project officials. Thales has

CU teacher sent to jail

UNB, Chattogram :Maidul Islam, an assistant professor of Chittagong University (CU), was sent to jail on Monday in a case filed over making 'derogatory remarks' on Prime Minister Sheikh

Own up to mass Muslim detentions

AFP :China must come clean about the fate of an estimated one million minority Muslims swept up in a "massive crackdown" in its far western region of Xinjiang, Amnesty

BD on Guinness Book of World Record for cleaning Dhaka city

Staff Reporter :Bangladesh makes Guinness Book of World Record by cleaning the capital city with joining of 7,021 people in a sweeping programme in Dhaka South City Corporation (DSCC)

Hearing on writ plea seeking treatment for Khaleda today

UNB, Dhaka :The High Court fixed Tuesday for hearing a writ petition seeking its directive on the authorities concerned for providing better treatment to BNP Chairperson Khaleda Zia in

Aldi Novel Aldilang, 19, was rescued by Panama-flagged vessel Arpeggio in Guam waters.

Aldi Novel Aldilang, 19, was rescued by Panama-flagged vessel Arpeggio in Guam waters.

.

Man dies in shootout with police in Madaripur

bdnews24.com :A man has been killed in an alleged shootout with police in Madaripur's Sadar Upazila. The shootout took place in Shirkhara area on Monday, said Subrata Kumar Halder,

PM opens Bhasan Char project to house 100,000 Rohingyas Oct 4

bdnews24.com :Prime Minister Sheikh Hasina will inaugurate the housing project for Rohingya refugees at the Bhasan Char island in the southeastern district of Noakhali on Oct 4.Mohammad Habibul Kabir