The National Board of Revenue (NBR) has withdrawn
the provision which allowed taxpayers to whiten black money without scrutiny
by paying a 15 percent tax.
The tax authority today issued a notification in this regard.
The development comes a few days after Syeda Rizwana Hasan, the environment
adviser, told journalists that the interim government would scrap the
provision.
The exemption allowed taxpayers to legalise undeclared income without facing
any questions about the source of wealth. However, the taxpayer would have to
pay a 15 percent tax on their assets, including cash, for the current fiscal
year.
The decision drew sharp criticism from economists, trade bodies and civil
society.
Source: Bangladesh Sangbad Sangstha