Tk 100m realised from one owner
NBR launches drive against tax-evading luxury house owners
The National Board of Revenue (NBR) has launched a crackdown on tax evaders who own luxury houses' in posh areas of Dhaka and Chittagong.
Already the Central Intelligence Cell (CIC), investigation arm of the board, has identified an owner in the city's Gulshan area and realised a sum of Tk 100 million as income tax last week.
Investigation into alleged tax evasion by four others in the same area is now in the final stage.
"The drive will continue in Dhaka and Chittagong following the initial success," NBR Chairman Khairuzzaman Chowdhury told the FE Tuesday.
He, however, did not disclose the identity of the businessman, who has several posh houses in Dhaka and Chittagong with all kind of modern facilities such as swimming pool, seminar hall and party room.
The NBR people are of the opinion that many dishonest businessmen, who own a lot of idle money, have invested in property business which fetches good return.
The NBR officials are, however, sure about the existence of several thousand luxury houses and farm houses, having all the modern facilities.
The NBR has already prepared an initial list of luxury and farm houses located in Dhaka and Chittagong.
Due to flaws in the existing Tax Identification Number (TIN) and false declarations, the NBR could not locate the luxury houses from the mandatory wealth statement given by the TIN holders in tax returns.
Many NBR officials, however, expressed doubt about continuation and ultimate success of the investigation.
Referring to an earlier investigation on luxury apartments and their owners, they said the ongoing crackdown may face the same fate due to pressure from the influential quarters.