Home >> More Business news >> This Article

Bangladeshi Networks Have Bank Accounts Frozen in Tax Dispute

Published on:

Note -- this news article is more than a year old.

Bangladesh 's National Board of Revenue (NBR) has ordered the country's banks to freeze the bank accounts belonging to three of the country's mobile networks.

The NBR issued the order to pressure the networks to pay a combined Tk 398.03 crore in outstanding tax demands covering sales taxes on SIM cards between August 2006 and March 2007.

The order froze the accounts of Banglalink, Robi and Citycell. Grameenphone had just paid its tax demand in time and was omitted from the order.

The NBR said that if the outstanding payments were not made within 15 days it would seize the funds from the bank accounts directly.

The mobile networks, which fought the retrospective tax demand in the courts say that they have not received formal notification from the NBR or the courts so can't pay the invoices.

Updated 17th Sept 2012: Corrected which country the story related to.

Sign up for our free email news alerts

Sample Copy

Tags: banglalink  robi  citycell