Almost all owners of flats or lands in Dhaka city are black money holders as they can register their properties showing much lower rates due to an improper system, according to Finance Minister AHM Mustafa Kamal.
“The existing system of the government makes them owners of the black money”, he said while virtually briefing on the outcomes of the two consecutive meetings of the Cabinet Committee on Economic Affairs (CCEA) and the Cabinet Committee on Government Purchase (CCGP) on Wednesday, reports UNB.
Responding to a question he said owners of lands or flats register their properties at much lower rates than the actual.
The government’s registration fees for lands and flats have been fixed. But flat or land owners register their properties showing much lower rates to evade the taxes which make them owners of black money, he said.
For instance, he said, if the price of a flat in Gulshan is Tk 100 million, its owner registers it showing Tk 20 million.
“So, in that sense, almost all the flat or land owners in Dhaka city are black money holders”, he said.
Kamal again defended the government’s recent amnesty for the money launderers and black money whitening steps saying that money becomes black due to the government’s improper systems.
Due to the flaws in the government system, people get the chance to evade taxes, he added.