Black money can be made white, can't be questioned

The new BNP government has included an opportunity to legalize undisclosed income in the proposed budget, just like the previous political government. At the same time, a provision has been made so that no one can raise questions about the source of this money. Although various quarters have said that such an opportunity should not be allowed, a provision has finally been made in the finance bill for the upcoming fiscal year 2026-27.

Keeping this provision, the cabinet approved the proposed budget for the new fiscal year on Thursday (June 11).

Finance and Planning Minister Amir Khosru Mahmud Chowdhury presented the budget in the National Parliament at 3 pm today.

If the provision to legalize undisclosed income remains unchanged, this opportunity will be available for buying and selling land, buildings or apartments between this coming July and next June.

However, there was nothing about this in the Finance Minister's budget speech in the National Parliament; that is, the provision to legalize undisclosed income was included in the bill without discussing it in the Parliament.

The Muhammad Yunus-led interim government's proposed budget for the 2025-26 fiscal year included an opportunity to legalize undisclosed income, but it was later dropped amid criticism. Before that, during the Awami League government's tenure in July, there was an opportunity to legalize undisclosed money. Even then, there was a provision not to raise questions about the source of this money.

The BNP government that came to power in the February elections four months ago also brought amendments to the First Schedule of the Income Tax Act 2023 in the Finance Bill, keeping this opportunity. It states, "Notwithstanding anything contained in this Act or any other law in force in Bangladesh, no question shall be raised or action taken regarding the 'source' of the following investments or purchases or receipts 'spontaneously' displayed by any person and the 'tax paid' against it."