The National Board of Revenue (NBR) has asked banks, financial institutions and the National Savings Authority to release information on five business tycoons and their family members.
They are Aziz Khan, Founder and Chairman of Summit Group, Mohammad Obaidul Karim, CEO of Orion Group, Salman F. Rahman, Co-Founder and Vice Chairman of Beximco Group, Nazrul Islam Mazumder, Chairman of Nassa Group, and Ahmed Akbar Sobhan, Founder of Bashundhara Group.
The operation was carried out by the Central Intelligence Cell (CIC) of the National Board of Revenue.
NBR sources said they were being investigated for alleged tax evasion.
Under Section 200 of the Income Tax Act, 2023, the NBR is empowered to request the bank account information of a taxpayer using his Tax Identification Number (TIN) in case of suspected tax evasion.
The law requires banks and non-bank financial institutions to submit account information to tax authorities. The tax law provides penalties for bank employees who fail to provide the required information about bank account activities.
Following the overthrow of the Awami League administration by a student-led uprising, NBR’s Revenue Zone 15 sent notices to search bank accounts of Awami League Presidium member Sheikh Selim and the family of business tycoon S. Alam.
