Budget FY2024-25 : Pay 15 pc tax to whiten black money
Staff Correspondent
Taxpayers, including companies and firms, with black money in Bangladesh have again gained the opportunity to legalise their undeclared wealth without having to face any questions about the sources of their income next fiscal year.
According to the proposed provision, no authority can raise any question if any taxpayer, including companies, pay a 15 percent tax on cash, bank deposits, financial securities, or any other forms of wealth.
Furthermore, they will have to count a specific tax on properties -- land, buildings, flats, or commercial spaces -- to whiten their wealth.
Finance Minister Abul Hassan Mahmood Ali said incidentally the introduction of a data verification system has created legal complications over the disclosure of undisclosed income and assets of various companies.
