BNP senior leader Barrister Jamiruddin Sircar expressed strong opposition on Friday to a provision in the proposed national budget for fiscal year 2024-25 that allows the legalization of black money by paying a 15% tax. Sircar argued that this measure essentially promotes corruption.
“If black money can be whitened by giving 15% tax, then there is no difference between us, the honest taxpayers, and them (holders of black money),” Sircar stated during a discussion. He emphasized that black money acquired through corruption should be confiscated rather than legalized. “If the black money can be whitened through tax, then you will be encouraged to indulge in dishonesty,” he warned.
On Thursday, Finance Minister AH Mahmud Ali presented the proposed budget in parliament, reintroducing the option to legalize undisclosed money by paying a 15% tax. This option was previously available two years ago at a 10% tax rate but was canceled due to poor uptake. The reintroduced provision increases the tax rate to 15%.
Sircar, a former speaker of the parliament, called on the government to reconsider the provision, highlighting the need to distinguish between honest earnings and money acquired easily through dishonest means. “Earning money does not match with getting money easily… this is my humble request to the government,” he pleaded.
The discussion program, organized by Bangladesh Sammilita Peshajibi Parishad—a platform of pro-BNP professionals—was held at the Jatiya Press Club in memory of former Attorney General AJ Mohammad Ali, who passed away on May 2 while undergoing treatment at Mount Elizabeth Hospital in Singapore. Sircar paid tribute to AJ Mohammad Ali, recalling his significant contributions to the country’s judiciary.