The Effect of Tax Amnesty on Anti Money Laundering in Bangladesh

Journal of Money Laundering Control, 2015

Posted: 6 Dec 2015

See all articles by Attiya Waris

Attiya Waris

School of Law, University of Nairobi

Lyla Latif

University of Nairobi

Date Written: December 5, 2015

Abstract

The current socio-economic and political context of Bangladesh makes the country particularly vulnerable to illegal transfer of assets outside the country as a result of which Bangladesh faces a range of money laundering threats. The most common offences generating substantial criminal proceeds, which are the main sources of money laundering are: bribery, abuse of public office, securities fraud, embezzlement, human trafficking, extortion, and drug trafficking. However, Bangladeshi authorities highlight corruption, drug trafficking and human trafficking as the most serious sources of illegal transfer of money. According to the estimate of World Bank national proceeds of corruption is worth more than 3% of GDP. In addition to the above the location of Bangladesh in between the golden triangle and golden crescent makes it further vulnerable to illegal inflow and outflow of assets/money. The prevalent insurgencies, extremism and terrorist activities in countries around Bangladesh also cause trafficking of arms through Bangladesh increasing the potential of money laundering from Bangladesh. In light of the foregoing, Bangladesh became a founder member of the Anti-Money Laundering Group in the Asia Pacific Group (APG) and for 5 years after 2002, Bangladesh was supporting the enactment of Anti-Money Laundering laws. This paper analysis Bangladesh's international stand on AML and subsequent issue of tax amnesties and the impact they have on AML.

Keywords: Bangladesh, Tax law, tax amnesty, anti money laundering

JEL Classification: H2, H7, H8

Suggested Citation

Waris, Attiya and Latif, Lyla, The Effect of Tax Amnesty on Anti Money Laundering in Bangladesh (December 5, 2015). Journal of Money Laundering Control, 2015, Available at SSRN: https://ssrn.com/abstract=2699458

Attiya Waris (Contact Author)

School of Law, University of Nairobi ( email )

P O Box 30197
Nairobi, Nairobi 00100
Kenya

Lyla Latif

University of Nairobi ( email )

Do you have negative results from your research you’d like to share?

Paper statistics

Abstract Views
1,016
PlumX Metrics