<div><span style="font-size: 1rem;">The number of black money holders paying taxes under an amnesty decreased by19.16 per cent to 2300 in the FY2021-22 down from12000 in the previous fiscal year, according to latest NBR data available on Monday</span><br></div><div><br></div><div>In the last financial year, there was an opportunity to whiten all kinds of black money by combining the stock market, land-flat purchases, and the money kept in the bank.</div><div><br></div><div>But at the end of the year, it was found that despite the opportunity, only 2,300 taxpayers came forward.</div><div><br></div><div>The poor response is attributed to higher tax rates imposed last year.</div><div><br></div><div>In the FY21, the tax rate was only 10 per cent compared to 25 per cent in the FY 22.</div><div><br></div><div>Besides 5 per cent penalty on that tax had to be paid to whiten black money. As a result, the total tax rate stood at 26.25 per cent.</div><div><br></div><div>A top official of the National Board of Revenue (NBR) said that the response was low due to this.</div><div><br></div><div>Dr Iftekharuzzaman, executive director of Transparency International Bangladesh (TIB), told UNB that giving such an opportunity is unethical, discriminatory and against the constitution.</div><div><br></div><div>It proved that little was gained from such opportunities given at the expense of morality, he said.</div><div><br></div><div>Such opportunities provide protection only to the corrupt and encourage corruption, said the TIB chief. - UNB</div><div><br></div><div>bnbd24/fas</div>