রিটার্নে অপ্রদর্শিত বিদেশস্থ সম্পত্তির উপর জরিমানা আরোপ

(1) In cases where any information is found regarding foreign assets not disclosed in the return of a taxpayer who was or is a Bangladeshi by birth, and the taxpayer fails to provide a satisfactory explanation regarding the source or nature of acquisition of such assets, or the explanation provided does not appear satisfactory to the Deputy Commissioner of Taxes, the Deputy Commissioner shall impose and collect a penalty equivalent to the fair market value of the foreign assets on the taxpayer.

(2) The provisions of sub-section (1) shall not affect any liability arising under this Act or any other law in force in Bangladesh.

(3) In cases of imposing a penalty under sub-section (1), the taxpayer shall be provided with a reasonable opportunity for a hearing.

(4) The Deputy Commissioner may recover the penalty imposed under sub-section (1) by selling or forfeiting any assets of the taxpayer or any assets held by another person on behalf of the taxpayer.

(5) Where the Deputy Commissioner has reasonable grounds to believe that there are undisclosed foreign assets in the taxpayer’s return, he may investigate the matter both within the country and abroad.

(6) The Board, to prevent the holding of undisclosed assets in returns or to recover assets smuggled abroad—

(a) may take such measures as it deems appropriate; or

(b) may grant approval, permission, or take measures for any income tax authority, not below the rank of Deputy Commissioner, to conduct inquiries or investigations.

Comment :