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He is also currently under the Bangladesh Financial Intelligence Unit (BFIU) scanner. Meanwhile, some senior AL leaders are trying to establish their old supremacy in Jubo League. Among them, one influential presidium member, a joint secretary of AL central committee is holding secret meetings one after another to ensure vital posts for their followers. Young leaders with clean image of the former Bangladesh Chhatra League will replace the ‘old aged’ Jubo League leaders. Various intelligence agencies are collecting secret information about the potential candidates for the Jubo League central committee. Besides, personnel of the AL president are also working on it.

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He said the government should take actions against the people who don’t whiten black money. He said the results achieved from black money whitening policies in the past had mostly been disappointing in terms of investments and revenue collection. “I don’t support the wholesale scope to legalise black money. This is damaging to the economy because it encourages people to amass black money and then legalise them.”

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“We will have to fix institutional weaknesses, and the ACC should go for the enforcement of laws, so that black money is not generated.” Black money is largely attributed to tax evasion, and its direct impact is the loss of government revenue. While unveiling the budget in June, Kamal introduced the provision that no authority, including the NBR and the Anti-Corruption Commission (ACC), can raise any question on the declaration of untaxed money.

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As part of the ongoing reforms in Jubo League, some top leaders of Jubo League are going to meet Sheikh Hasina at her residence Ganobhaban on October 20 at her invitation. She is going to revamp the much talked Jubo League at the next council.

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In that time, French traders could do business here without paying any taxes by a decree from the emperor Awrangajeb. In Mughal era, there was a garden house of Sheikh Enayet Ullah, the landlord of Jamalpur porgona (district), in this place. He acquired a very big area in Kumortuli (Kumartuli) and included it in his garden house. He used to enjoy here keeping beautiful girls collecting from the country and abroad, dressing them with gorgeous dresses and expensive ornaments. There is a saying that, the foujdar of Dhaka (representative of mughal emperor) in that time was attracted to one of the beautiful girls among them. He invited Sheikh Enayet Ullah in a party one night and killed him in a conspiracy when he was returning home.

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“The tax administration can’t monitor properly. Even if it catches a tax-dodger, the case is settled through a corrupt means. As a result, the government is deprived of revenue.” Monzur Hossain, research director of the Bangladesh Institute of Development Studies (BIDS), said the money was already absorbed in the economy in the form of bank deposits or some forms of investment. Individual taxpayers can disclose undisclosed cash, bank deposits, savings certificates, shares, bonds or any other securities on paying taxes at a rate of 10 per cent. They can also invest in the capital market and show it in their tax returns. In December 2019, the government reduced stamp duties and other fees on property registration.

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As a result, the government did not get revenue since people avoided showing the real price of a property in a bid to skip from paying the high registration fees. The debate over the black money whitening surfaced again on Monday when the National Board of Revenue (NBR) said untaxed money-holders legalised the highest amount of undeclared assets in history in just six months of the current fiscal year.

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