The interim government has decided to cancel the provision of whitening black money from the budget of the current financial year.
The decision was taken at the weekly meeting of the Advisory Council held at the Chief Adviser's residence and office in Jamuna on Thursday (August 29).
Environment, forest, and climate change advisor Syeda Rizwana Hasan confirmed the matter to newspersons after the meeting. She is also the advisor for the Ministry of Water Resources.
In the 2024-25 fiscal year budget approved last July, the ousted Awami League government made rules to legalize black money by taxing it at 15 percent. This decision of the then government faced severe criticism. Because legitimate taxpayers have to pay up to 30 percent income tax as well as additional surcharge. Critics said allowing black money to be laundered through a 15 percent tax could further fuel irregularities in the financial sector.
