Star Business Report

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) yesterday said the opportunity to legalise undisclosed money could be offered in the productive sector for a specific period, not for indefinitely.

“Our views are clear. If there is any undisclosed money, the government can give them a chance to invest in the productive sectors for a specific period. However, it should not be allowed forever,” said FBCCI President Md Jashim Uddin. He made the remarks at a media briefing at the FBCCI Icon Building while sharing the apex trade body’s views on the proposed budget.

Finance Minister AHM Mustafa Kamal unveiled the budget for the fiscal year of 2021-22 on Thursday.

He, however, did not mention whether the government was going to continue the special provision on black money whitening, which allows individuals to legalise assets without facing any question about the source of funds from any authority.

The current provision to legalise untaxed money on payment of 10 per cent tax on the disclosed amount expires on June 30.