Ruling party MP wants option to legalise black money in stock market

He criticises the option, but adds that the opportunity can be allowed for investment in the troubled capital market

The ruling Awami League’s MP from Jamalpur-1 Noor Mohammed has criticised the option to legalise undisclosed income, but added the opportunity could be allowed if it is aimed at investments in the struggling capital market.

During the first general discussion on the proposed budget for the FY 2024-25 in the parliament on Tuesday, Noor said the government should not have treated honest taxpayers unfairly in its past initiatives to legalise so-called black money.

Reintroducing the option is “discriminatory and unethical”, he added.

Highlighting the downturn in the stock market over the past two months, he urged Finance Minister Abul Hassan Mahmood Ali to consider allowing the whitening of black money through investments in the stock market.

He also demanded the withdrawal of taxes related to the capital market.

The Jamalpur-1 MP appealed to the finance minister to reconsider the proposal for a 25 percent tax on imported vehicles for MPs.