Tax imposition on Prof Yunus' donation: HC concludes hearing

The High Court (HC) on Tuesday concluded the hearing on three applications filed by Nobel-laureate Prof Dr Muhammad Yunus challenging the tax liability for the assessment years 2011-2012 to 2013-2014 on the money donated by him to three trusts.
The High Court bench of Justice Muhammad Khurshid Alam Sarkar and Justice Sardar Md Rashed Jahangir held the hearing and fixed May 31 for announcement of the verdict on the issue.
According to the case documents, Prof Yunus donated Tk 767.33 million to three trusts namely 'Professor Muhammad Yunus Trust', 'Yunus Family Trust' and 'Yunus Centre'. Later, the Deputy Commissioner of Taxes (DCT) of Tax Zone-6 in Dhaka imposed a 'gift tax' of Tk 153.91 million on the donated money.
Prof Yunus then filed appeal petitions against the tax imposition on the donated money. However, the Tax Appellate Tribunal upheld the decision of the DCT. Then he moved the High Court.
Upon hearing his applications, the High Court bench of Justice AFM Abdur Rahman and Justice Md Shohrowardy on April 2 in 2015 stayed the operation of the notifications issued for realising the demanded tax.
Recently, the Attorney General Office took an initiative for holding hearing on the petitions and mentioned it in the High Court bench. Then the court fixed May 23 for hearing on those.
Barrister Mustafizur Rahman Khan appeared in the court hearing on behalf of Prof Yunus, while Attorney General AM Amin Uddin represented the state.
In a briefing, Attorney General AM Amin Uddin said, "Prof Yunus donated some money to three trusts. Then the Tax Authority imposed a 'gift tax' on his donation. He went to the tribunal challenging the tax imposition order. He lost there at the tribunal. He then submitted the reference files to the High Court. The hearing on those files concluded today (Tuesday).

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