Staff Correspondent

The National Board of Revenue (NBR) has instructed banks to provide account details of a number of individuals and institutions to see whether all tax compliance matters were met.

The Central Intelligence Cell (CIC) of the board has already begun looking into the records of business tycoons, including Salman F Rahman, vice-president of Beximco Group, Nazrul Islam Mazumder, chairman of Nassa Group, and their associates.

Muhammed Aziz Khan, chairman of Summit Group, Ahmed Akbar Sobhan, chairman of Bashundhara Group, Obaidul Karim, chairman of Orion Group; and their associates are also under the NBR scanner.

The CIC has compiled the list based on a review of various news reports and specific classified information, according to a press statement issued on Thursday (22 August).

Letters have been sent to various banks, non-banking financial institutions, the Bangladesh Securities and Exchange Commission, the National Savings Directorate, and other relevant departments seeking information on bank accounts held by these individuals.

Earlier on 14 August, Tax Zone-15 of the NBR requested banks and non-bank financial institutions (NBFIs) to provide account details of Saiful Alam Masud, chairman of S Alam Group, along with those of his family members and business entities.

The tax zone asked banks and NBFIs to provide account details for S Alam's wife Farzana Parvin, mother Chemon Ara Begum, and brother Abdullah Hasan.

Additionally, information was requested regarding the bank accounts of their parents, children, and siblings, as well as the business entities they own.

Sources at the NBR said more large businesses are being listed. The income and expenditure, banking transactions, and potential tax evasion by these institutions will also be scrutinised.

An NBR official, speaking on condition of anonymity, told The Business Standard, "The CIC has identified potential tax evaders based on confidential information. If any tax evasion is proven under the existing Income Tax Act and the Prevention of Money Laundering Act, legal action will be taken against these individuals and institutions."

The Bangladesh Financial Intelligence Unit has also sought information from banks on transactions by politicians, former and current members of law enforcement agencies, businessmen, and business establishments.