NBR seeks bank details of Salman, Akbar Sobhan, 3 others

The National Board of Revenue (NBR) has initiated an investigation into possible tax evasion by the country's top five industrial groups – Beximco, Nassa, Bashundhara, Summit, and Orion Group. 

As part of the investigation, the NBR’s central intelligence cell (CIC) sought bank statements of Beximco Group owner Salman F Rahman, Nassa Group chairman Nazrul Islam Mazumder, Summit Group chairman Aziz Khan, Bashundhara Group chairman Ahmed Akbar Sobhan, and Orion Group chairman Obaidul Karim, along with that of the business groups. 

According to NBR sources, letters have been issued to different banks, financial institutions, the securities and exchange commission, the national savings directorate, and other relevant offices, asking information of the business leaders and their business groups.

The CIC is looking into possible cases of tax evasion by individuals and institutions believed to have amassed significant wealth through unlawful means. It has prepared a list of probable tax evaders as per media reports and specific confidential information.

Earlier, NBR chairman Abdur Rahman Khan held a meeting with the CIC officials on Wednesday. The meeting took a decision on launching investigations into the five business groups over possible evasion of income tax, VAT and customs duty in recent years. It also decided to scrutinise the import and export activities of the groups. 

If found guilty, the responsible individuals could face punitive action under the Income Tax Act, 2023, and the Money Laundering Prevention Act, 2012, in addition to being required to pay any outstanding taxes.