June 24, 2024, 3:40 am


Staff Correspondent

Published:
2024-05-01 15:30:32 BdST

NBR’s 13-Hour Drive At BRAC BankTk50 crore of tax evasion yet to be recovered


Despite a relentless 13-hour operation, a specialised team from the National Board of Revenue (NBR) was unable to recover the Tk50 crore of tax evasion from BRAC Bank.

A team of 14 members led by two deputy commissioners of Tax Zone-15 started the 13-hour drive at Gulshan-1 branch of BRAC Bank at 11:00 am on Tuesday.

The operation, approved by the NBR chairman, ended at midnight (12:30am) on Tuesday. However, the Gulshan branch of the bank declined to release the funds, citing an ongoing court case.

Meanwhile, the NBR official left the Gulshan branch with only a written explanation from the bank officials.

Although the NBR authorities are claiming from the beginning, the subject matter of the lawsuit and the tax owed by NBR are entirely different matters.

The NBR sources said that the Tax Zone-15 has sent a special team to the Gulshan-1 branch of BRAC Bank to collect Tk50 crore revenue owed by the government.

Besides, NBR’s intelligence agency CIC started an investigation two years ago into tax evasion allegations against an online gambling company named Ulka Games Limited. Then the CIC freeze Tk53 crore of Ulka Games Limited that was deposited in the BRAC Bank so that the company could not run away with the money.

In the investigation, the NBR found tax evasion of about Tk50 crore.

The sources also said that a special team has gone on a drive to collect government dues through the NBR legal process.

However, complications arise due to an ongoing lawsuit between Ulka Games and the Indian company Moonfrog. Consequently, the bank authorities are reluctant to release the funds under this pretext.

However, the case has no connection with the NBR's debt. The issue of taxes is completely different. That is why the special team went to collect the revenue with the written approval of the NBR chairman.

Legal Advisor of BRAC Bank Rashid Ahmed, in this regard, said that there is a case between Ulka Games and Indian company Moonfrog regarding the money in the bank. Due to the case, the court has banned the transaction of this money.

The hearing will be held on 5 May in the court on whether the NBR will get this money or not. The money will be released only after the decision of the court.

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