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08 May 2014   02:44:44 PM   Thursday BdST A- A A+ Print this E-mail this

Change of colour of black money to be barred in next budget


The government is considering blocking the conduit for washing white black money in the next national budget, effective from the first of July.   

Finance Minister Abul Maal Abdul Muhith Thursday disclosed such a plan while speaking at the 35th advisory committee meeting of the National Board of Revenue (NBR) Hotel Sonargaon.

"The existing opportunity of whitening black money will not be retained in the 2014-15 budget," he said.

According to the government decision, investment of the black money in various business sectors like housing has been stopped.

The meeting discussed a bunch of 617 proposals placed by the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI). Of the proposals, 172 are on income tax while the rest cover other taxes, value-added tax (VAT) and import duty.

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