Dhaka, March 22 -- Government's revenue plans to eliminate the provision of legalization of undisclosed money in the national budget for the next fiscal year, as it has long been criticized as washing 'black money white'.

National Board of Revenue (NBR) chairman Abdur Rahman Khan disclosed the plan Saturday at a media meet on the looks of the budget in the making after a regime change.

However, he said if full abolition is not feasible, the penalty rate on undeclared money, particularly in the housing sector, would be increased to a level that ensures a higher tax burden than that of regular taxpayers.

The NBR chairman made the remarks at a seminar titled "Domestic Revenue Mobilization" jointly arranged by the Economic Reporters' Forum...