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Economy

Bangladesh scores $1.2bn through tax amnesty offer

COVID also helps as it prevents cheaters from sheltering cash overseas

DHAKA -- For Bangladesh, the six months through December amounted to a watershed as a record-breaking $1.2 billion in assets were legalized and thus prevented from ending up parked overseas.

The "unprecedented" response by over 7,500 Bangladeshis to a tax amnesty program that lasts through June highlights how much black money vacations in the South Asian nation's mammoth underground economy, estimated to be as large as 63% of gross domestic product.

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