With some tweaks, amnesty stays for money launderers in Bangladesh - News Summed Up

With some tweaks, amnesty stays for money launderers in Bangladesh


The government has passed the Finance Bill for 2022-23 with a modified provision offering amnesty to the money launderers. He had also proposed 7 percent tax on money coming into Bangladesh as part of his efforts to fund the Tk 6.78 trillion expenditure he has planned, drawing intense criticism that the option will encourage money laundering. He retained the scope of bringing funds, raising the tax rate slightly to 7.5 percent. A new rule has also been included in the revised provision: if a Bangladeshi is found to have undisclosed properties abroad, they will be fined. The tax rate for companies failing to meet these conditions has been raised from 22.5 percent to 25 percent.


Source: bd News24 June 29, 2022 22:59 UTC



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