Bangladesh's National Board of Revenue eliminates 15% "black money" legalization provision.

Bangladesh's National Board of Revenue (NBR) has eliminated a provision that allowed taxpayers to legalize undeclared income, or "black money," by paying a 15% tax without scrutiny. This decision follows criticism from economists, trade bodies, and civil society, and comes after the interim government announced the removal of the provision. The NBR deemed the scheme discriminatory, aiming for a fairer tax system.

September 02, 2024
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