7-member committee formed to determine steps for collecting tax from laundered assets

The government has formed a seven-member committee to determine the steps for collecting the government’s customs and taxes from accounts of assets laundered abroad that have been frozen or attached by court order.

A gazette notification in this regard was issued from the Central Bank Branch of the Financial Institutions Division of the Finance Ministry on Sunday (September 13). The committee has been asked to determine the necessary legal and other steps on the matter and recommend taking effective measures.

According to the notification, the Attorney General of Bangladesh has been made the convenor of the committee. Members include the additional secretary of the Central and Commercial Bank Wing of the Financial Institutions Division, the director general (money laundering) of the Anti-Corruption Commission (ACC), the chief officer of the Bangladesh Financial Intelligence Unit (BFIU), the director general of the Central Intelligence Cell (CIC) of the National Board of Revenue (NBR) and the DIG of the Organised Crime Branch of the Criminal Investigation Department (CID) of police.

In addition, the director general of the Customs Intelligence and Investigation Directorate (CIID) of the NBR has been made the member-secretary of the committee.

The terms of reference of the committee state that it will determine the necessary legal and other steps for collecting the government’s due customs and taxes from those accounts of assets laundered abroad that have been frozen or attached by court order.

At the same time the committee will formulate necessary recommendations aimed at taking effective measures for collecting the government’s revenue from these assets. The notification stated that the order has been issued with the approval of the appropriate authority.

Deputy Secretary of the Financial Institutions Division of the Finance Ministry Afroza Akter Riba signed the notification by order of the President.