As per
finance ministry of Bangladesh, its citizens have hidden / stashed away, some $
110 billion worth of black money.
That nearly
equals 80 % of country’s GDP.
How to
bring this black money into the mainstream economy and put it to productive use
?
With that
objective in mind, Bangladesh
parliament just passed a new law that would enable tax-evaders to invest such
monies into local stocks / shares officially.
All they
need to do is to pay 10 % of invested monies as tax.
And no
questions asked as to the source of their funds !
While
grappling with the monster of black money, it is a “ no holds barred “, as far
as Bangladesh
is concerned.
May be
Indian parliamentarians can learn a lesson from their innovative neighbors !
With
regards
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