Transparency International Bangladesh (TIB) has expressed shock and disappointment over the unethical provision in the new budget that allows laundering black money disguised as undisclosed income.

TIB fears that the facility to legalize black money with just a 15 percent tax will discourage honest and legitimate taxpayers, as no authority will question the money and assets declared under this provision.

This will foster a liberal environment conducive to corruption in the country. Furthermore, this opportunity undermines the ruling party's election manifesto and its frequently reiterated pledge of zero tolerance against corruption.

TIB Executive Director Dr. Iftekharuzzaman voiced his strong disapproval of the provision allowing black money legalization, questioning its rationale.

He expressed deep concern over the legal complexities arising from the Data Verification System (DVS), which have led to the legitimization of property purchases using undisclosed funds, primarily due to taxpayers' lack of awareness.

He criticized the lack of accountability, as no authority will have the power to scrutinize these transactions.

Dr. Iftekharuzzaman further emphasized that this unethical, illegal, discriminatory, and unconstitutional provision not only contradicts the ruling party's anti-corruption rhetoric but also erodes the moral fabric of society.

He described it as a "government invitation" for people to engage in corruption, assuring them of impunity. In essence, the government is inadvertently encouraging corrupt practices by guaranteeing the legalization of black money.

Dr. Zaman condemned the provision imposing a maximum 30% tax on honest taxpayers as discriminatory and unconstitutional.

He argued that this provision contradicts Article 20(2) of the Constitution, which criminalizes illegitimate income. Furthermore, it unfairly discriminates against law-abiding taxpayers who are subject to higher taxes, while those with black money are effectively rewarded with a lower tax rate.

He also expressed skepticism about the effectiveness of compromising morals to achieve revenue goals, citing past failures of similar amnesty schemes.