NBR seeks BSB bank account info

The NBR has sought information on bank accounts of BSB Foundation and its six affiliated institutions.

Staff Correspondentbdnews24.com
Published : 15 July 2014, 07:45 PM
Updated : 15 July 2014, 07:45 PM

Central Intelligence Cell (CIC) of the revenue board recently sent letters to all banks operating Bangladesh asking for the information.

The six other associated institutions are Cambrian College, Cambrian School & College, Cambrian School, Metropolitan College, King’s College and Cambrian Hostel.

CIC usually seeks bank account information of an individual or organisation out of suspicion that the person or institution is dodging paying income tax.

The CIC letter said information of any bank account operated alone or jointly by any person involved in the seven institutions had to be sent to the cell in seven days.
The cell has also sought information on dormant accounts of the institutions.
When asked, BSB Foundation Chairman MK Bashar told bdnews24.com: “We pay income tax as per government rules. There were complaints (against us) before too and NBR had looked into them.”
He claimed his opponents lodged complaints -- sometimes in real names and sometimes in dubious names -- and NBR looked into those as well.
Bashar said his institutions had paid over Tk 10 million in income tax in the last fiscal year but claimed those were counting losses every month.
“The government should fix how much tax an educational institution will pay. MPO-listed educational institutions don’t pay any tax.
“But we have to pay teachers’ salary, house rent and taxes and VAT,” he added.
BSB Foundation has 15 associate institutions.