Ashraful Alam and Asadul Alam Mahir, two sons of controversial businessman Mohammed Saiful Alam, deprived the state of Tk 75 crore in taxes by legalising Tk 500 crore in undisclosed income, documents obtained by The Daily Star have revealed.

The scope for legalising undisclosed income without facing any questions remains as the tax administration has not scrapped the provision of whitening black money in case of the purchase of flats and land, raising criticism.

Despite widespread condemnation from economists, watchdogs, businesspeople and even multiple lawmakers, the government is expected to retain the amnesty allowing individuals and businesses to whiten black money without scrutiny by paying a 15 percent tax in the upcoming fiscal year.

Backtracking on its promise to eliminate black money, the government has once again made room to allow both individuals and companies to whiten money without facing scrutiny and by paying a 15 percent tax, a move that drew sharp criticism from economists and civil society.

Budget admits we are in a crisis, but offers no direction out of it

What message is the government trying to send with its black money whitening facility?

The unquestioned amnesty to bring back money stashed abroad is not going to continue in 2023-24 fiscal year, which begins in July.