Representational photo BigstockThe government, however, plans to legalize black money by allowing it to be invested in industries with an aim to boost private investmentBangladesh's business community is against any scheme of whitening the black money, but supportive of fiscal measure to legalize undisclosed and untaxed money in the upcoming budget for the next financial year (FY2019-20). The government, however, plans to legalize black money by allowing it to be invested in industries with an aim to boost private investment. However, it is mandatory to mention the source of the undisclosed income while investing it in the stock market. The opportunity to legalize black money in the industrial sector was first introduced in FY2003-04, but was withdrawn after two years. According to the BEA estimate, Bangladesh has around Tk5 trillion to Tk7 trillion of black money.

Source: Dhaka Tribune June 10, 2019 17:48 UTC