‘Black’ money: does not come in investments, yet opportunities again and again
Finance Minister AHM Mustafa Kamal has brought back the old criticism with the opportunity to legitimize undisclosed income in the budget of the epidemic.
Past experience has shown that the military-controlled caretaker government did not have much success with the opportunity to "whiten black money" except in 2006 and 2007. Even then, giving this opportunity again and again has caused controversy.
In the last financial year, there was an opportunity to buy flats and apartments without any question with 10 percent tax, build buildings and invest undisclosed income in economic zones and high-tech parks.
Finance Minister AHM Mustafa Kamal has proposed to give the same opportunity in the case of money, savings certificates, shares, bonds or any other securities deposited in the 2020-21 budget.
Anyone can invest their illegally earned or tax-evaded money secretly in these sectors with only 10 per cent tax without any penalty. The National Board of Revenue (NBR) or any other government authority will not want to know the source of that money.