The National Board of Revenue (NBR) has ordered banks, financial institutions, and the National Savings Authority to produce information on five business magnates and their family members.
They are Summit Group founder-chairman Aziz Khan, Orion Group CEO Mohammad Obaidul Karim, Beximco Group co-founder and vice-chairman Salman F Rahman, Nassa Group Chairperson Nazrul Islam Mazumder, and Bashundhara Group Founder Ahmed Akbar Sobhan.
The move was undertaken by the National Board of Revenue’s Central Intelligence Cell (CIC).
NBR sources claimed they are being investigated for alleged tax evasion.
As per section 200 of the Income Tax Law 2023, the NBR is empowered to seek bank account information of a taxpayer against his Taxpayer Identification Number (TIN) if they suspect any tax evasion.
According to the law, banks and non-bank financial institutions must transmit account information to tax authorities. The tax law includes a penalty provision for bank staff who fail to provide required information about bank account activity.
Following the overthrow of the Awami League administration in a student-led rebellion, tax zone 15 of the NBR sent bank account search notifications to Awami League Praesidium Member Sheikh Selim and business mogul S. Alam’s family.
