Scope to whitening black money dropped from 2025–26 budget

The approved budget for the 2025–26 fiscal year no longer includes the provision to legalise black money, reversing earlier plans to reintroduce the facility.

The decision was made during a meeting of the Advisory Council held on Sunday (June 22), at the State Guest House Jamuna, chaired by Chief Adviser Dr Muhammad Yunus.

Financial Adviser Dr Salehuddin Ahmed presented the Tk 790,000 crore budget, which is Tk 7,000 crore less than the outgoing fiscal year. The National Board of Revenue (NBR) has been assigned a revenue collection target of Tk 499,000 crore, and the budget deficit is set at 3.6% of GDP.

Initially, the government had considered reinstating the black money whitening scheme, especially targeting the housing sector with a fivefold increase in tax rates. However, the move was scrapped following significant public and expert criticism.

In response to the cancellation, a delegation from the Real Estate and Housing Association of Bangladesh (REHAB) met with the Financial Adviser and the NBR Chairman, urging the government to reconsider the decision, citing potential impacts on economic activity and employment.