The National Board of Revenue (NBR) will allow individuals to legalize black money by paying a 15% tax in the 2024-25 budget. Previously, black money could be invested in Economic Zones (EZs) or hi-tech parks with a 10% tax and no questions about the money's source, but this option saw no investments over five years. The new policy, advised by the IMF, replaces the old scheme and aims to integrate undeclared income into the economy through a general tax amnesty. This shift comes after the existing provision for investment in EZs and hi-tech parks expires on June 30, 2024. Under the new rules, legitimized funds won't face further scrutiny from government agencies.
Bangladesh
109 words · 36 secDU removes ‘Shaheed Osman Hadi Hall’ name, brings back ‘Sheikh Mujibur Rahman Hall’
Dhaka University removed the “Shaheed Osman Hadi Hall” nameplate from Sheikh Mujibur Rahman Hall on 30 September, restoring the original name. The Hadi nameplate had been installed by students without university approva…
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