NBR lifts restriction on BBA's bank withdrawal
Thursday, 1 July 2010
FE Report
The National Board of Revenue (NBR) Tuesday lifted restriction on cash withdrawal of bank accounts of Bangladesh Bridge Authority (BBA) after it received Tk 500 million arrear tax from the entity.
The tax wing of the revenue board had issued an order to banks restricting cash transaction from the accounts of the authority until clearance of the due tax is received. The BBA owed nearly Tk 1.26 billion arrear tax to NBR.
The NBR issued the order to collect Tk 723 million tax directly from the BBA accounts.
"We have received Tk 500 million arrear tax from BBA today (Wednesday).
There was some misunderstanding with the authority but it has been resolved after a successful discussion at high-level," said Suborna Chowdhury, deputy tax commissioner of the concerned tax zone.
"I hope the BBA will cooperate with us and pay tax regularly as a tax compliant entity," she said.
Meanwhile, the BBA in a clarification said they had neither received any copy of NBR bank notice nor got a chance of hearing to defend itself on this matter.
According to the income tax law, taxmen cannot term any taxpayer a tax defaulter until settlement of the income tax cases, it said in a letter sent to FE Wednesday.
The letter, signed by assistant director (accounts and budget) Syed Maruf Hossain, said NBR action on suspension of bank transaction has not been done as per law as all of the tax demands are disputed.
Tax demand worth Tk 1.20 billion is a disputed amount. Income tax cases on the demanded amount are yet to resolved, the letter said.
NBR official said the taxmen have demanded the tax on shown amount of BBA in 2009-2010. There is no scope to appeal on the tax demanded on the shown amount of a taxpayer, he added.
The National Board of Revenue (NBR) Tuesday lifted restriction on cash withdrawal of bank accounts of Bangladesh Bridge Authority (BBA) after it received Tk 500 million arrear tax from the entity.
The tax wing of the revenue board had issued an order to banks restricting cash transaction from the accounts of the authority until clearance of the due tax is received. The BBA owed nearly Tk 1.26 billion arrear tax to NBR.
The NBR issued the order to collect Tk 723 million tax directly from the BBA accounts.
"We have received Tk 500 million arrear tax from BBA today (Wednesday).
There was some misunderstanding with the authority but it has been resolved after a successful discussion at high-level," said Suborna Chowdhury, deputy tax commissioner of the concerned tax zone.
"I hope the BBA will cooperate with us and pay tax regularly as a tax compliant entity," she said.
Meanwhile, the BBA in a clarification said they had neither received any copy of NBR bank notice nor got a chance of hearing to defend itself on this matter.
According to the income tax law, taxmen cannot term any taxpayer a tax defaulter until settlement of the income tax cases, it said in a letter sent to FE Wednesday.
The letter, signed by assistant director (accounts and budget) Syed Maruf Hossain, said NBR action on suspension of bank transaction has not been done as per law as all of the tax demands are disputed.
Tax demand worth Tk 1.20 billion is a disputed amount. Income tax cases on the demanded amount are yet to resolved, the letter said.
NBR official said the taxmen have demanded the tax on shown amount of BBA in 2009-2010. There is no scope to appeal on the tax demanded on the shown amount of a taxpayer, he added.