Budget for FY25: Another scope for legalising black money?

The Bangladesh government is considering allowing undisclosed money to be legalized and laundered money to be brought back home through formal channels in the next budget. Officials say a 15% tax on legalizing black money is being considered. Similar attempts in the past have not yielded expected results. Economists suspect a significant amount of money was laundered abroad before the recent election. The government aims to boost foreign currency reserves by enabling the repatriation of such funds. Illustration: Collected