Black money legalization scope scrapped

The interim government has revoked the controversial provision allowing the legalization of undisclosed income in the 2025-26 fiscal year, Finance Adviser Salehuddin Ahmed announced on Sunday. 

The decision was revealed during a press conference following the advisory council's approval of a Tk 790,000 crore budget for 2025-26, a 1 percent cut from the current fiscal year's allocation, ending June 30.

Initially, the Finance Bill 2025, introduced on June 2, proposed allowing untaxed assets to be legalised through real estate investments at a higher cost. 

However, the provision faced significant backlash and has now been eliminated.

Civil society, economists, and anti-corruption groups criticised the measure, arguing it would legitimise illicit wealth and discourage honest taxpayers. 

Transparency International Bangladesh warned it could fuel corruption, while the Centre for Policy Dialogue called it a betrayal of the July Uprising's spirit, undermining tax justice and the rule of law.