Dhaka, Jun 7 (V7N)– Bangladesh Nationalist Party (BNP) senior leader Barrister Jamiruddin Sircar strongly criticized the provision to legalize black money in the proposed budget, stating that it effectively encourages corruption. He emphasized the danger of allowing black money to be whitened through a mere 15% tax, arguing that it erodes the distinction between honest taxpayers and those who amassed illicit wealth.
 
During a discussion, Sircar advocated for the confiscation of funds derived from corrupt practices instead of providing an avenue for their legalization through taxation. He warned against the potential consequences of incentivizing dishonest behavior by offering a means to legitimize ill-gotten gains.
 
Finance Minister AH Mahmud Ali presented the proposed national budget for fiscal year 2024-25 in parliament, retaining the provision to legalize undisclosed funds with a 15% tax rate. This move follows a previous attempt, which offered a 10% tax rate but was scrapped due to a lackluster response.
 
Sircar, a former parliament speaker, urged the government to reconsider its stance on whitening black money, emphasizing the importance of maintaining a clear distinction between legitimate earnings and illicit wealth. He appealed to the authorities to exercise caution in this matter.
 
The discussion took place at the Jatiya Press Club, organized by Bangladesh Sammilita Peshajibi Parishad, to commemorate the late former Attorney General AJ Mohammad Ali, who passed away on May 2. Sircar honored Ali's contributions to the country's judiciary during the event, paying tribute to his memory.
 
END/V7N/SMA/DK/