In recognition of growing international trade and usage of foreign exchange in the resident economy and, in recognition of internationally mobile expat and Bangladeshi workforce, amendments were brought in by the Bangladesh government in the Foreign Exchange Regulation Act of Bangladesh. Following these amendments government will now be able to better scrutinize foreign asset ownership of Bangladeshi citizens, as well as of foreign citizens living in Bangladesh. This may have implication for Bangladesh Income Tax laws, as the income tax returns impose "net worth" based "surcharges" on payable income taxes. Addition of foreign assets in declared asset list may have tax implications for foreigners/dual nationality holding Bangladeshis, who are tax residents in Bangladesh.
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