Feb 12, Kathmandu- The National Assembly has approved the Money Laundering and Promotion of Business Environment Bill.

The bill was approved by the National Assembly meeting held on Monday. Assembly Speaker Ganesh Prasad Timilsina informed that the bill passed by the House of Representatives with amendments was approved unanimously in the National Assembly.

Earlier, there was a theoretical discussion on the said bill. During this, the members of the National Assembly drew the attention of the government to the provisions of Article 28 which would be legal if the source of undisclosed property is not declared illegal.

Then Law, Justice and Parliamentary Affairs Minister Dhanraj Gurung answered the questions and concerns raised by the members. During that time, he informed that 50 percent tax will be levied on such assets, saying that assets not earned through criminal activities will be legalized only if the legalization process is not completed.

After this, a motion was presented to consider the said bill.