Tax on donation: Dr Yunus pays Tk12.5 crore to NBR

Nobel laureate Dr Muhammad Yunus has cleared a nearly Tk12.5 crore payment to the National Board of Revenue (NBR) as gift tax.

Md Ruhul Amin Sarkar, authorised representative of Dr Yunus, paid the amount on behalf of the economist on Tuesday (25 July), according to a letter sent to the NBR Tax Zone-14 deputy tax commissioner (circle-278) on Tuesday (25 July).

In the letter, seen by The Business Standard, Ruhul said, "A notice was issued from the tax zone for the payment of the due taxes on donations (made by Dr Yunus).

"In response to the notice, Muhammad Yunus appealed to the Appellate Division. But the Appellate Division ruled that the gift tax must be paid, which the taxpayer learned through media reports.

"A total of Tk12.46 crore has been paid through pay order to Southeast Bank Ltd on Tuesday in accordance with the Appellate Division order." Earlier, on last Sunday, the Appellate Division of the Supreme Court ordered Dr Yunus to pay the gift tax dues to the NBR.

A four-member bench led by Chief Justice Hasan Foyez Siddiqui issued the rule. Attorney General AM Amin Uddin represented the state and advocate Fida M Kamal represented Dr Yunus on the day.

According to media reports, NBR sent the notice to Dr Yunus demanding tax of about Tk12.28 crore against total donation of Tk 61.57 crore in 2011-2012 tax year.

Moreover, the central authority for tax administration issued another notice demanding about Tk1.60 crore as tax against donations of Tk8.15 crores in the tax year 2012-2013.

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