The National Board of Revenue is investigating into the matters related to the names of Bangladeshi individuals and firms that appeared in the Paradise Papers as investors in some tax heaven and offshore jurisdictions, said its chief Md Nojibur Rahman on Tuesday.
Intelligence wings of the NBR are working with the Bangladesh Financial Intelligence Unit of the Bangladesh Bank on the issue, he told reporters after a reception programme at the Large Taxpayers Unit (Income Tax) in Dhaka.
LTU of the revenue board arranged the reception for 10 highest income taxpaying firms.
Nojibur said that the NBR had institutional framework to scrutinise the issues of money laundering and other related offences.
‘We will reveal the findings on time once the investigations are completed,’ he said.
At the same programme, Bangladesh Bank governor Fazle Kabir, however, said that the central bank was yet to examine the issue.
The government agencies concerned will scrutinise the issue, he said.
US-based International Consortium of Investigative Journalists recently leaked thousands of documents which exposed investments in tax heaven and offshore jurisdictions having no tax.
Some names of individuals including businessman Abdul Awal Mintoo and his family and some companies have appeared in the documents.
The LTU honored top managements of Islami Bank Bangladesh Ltd, Standard Chartered Bank, HSBC, United Commercial Bank, Pubali Bank, Dutch-Bangla Bank, American Life Insurance Company Bangladesh Ltd, IDLC Finance Ltd, Uttara Finance and Investment Ltd and Infrastructure Development Company Ltd.
IBBL managing director and chief executive officer Abdul Hamid Miah, Standard Chartered Bank CEO Naser Ezaz Bijoy, HSBC CEO Francois de Maricourt, UCBL managing director and CEO A. E. Abdul Muhaimen, Pubali Bank managing director and CEO M.A. Halim Chowdhury, DBBL managing
director and CEO Abul Kashem Md Shirin, American Life Insurance general manager Syed Ahsanul Karim, IDLC CEO Arif Khan, Uttara Finance
CEO SM Shamsul Arefin and IDCOL CEO Mahmood Malik received crests from the LTU.
LTU commissioner Alamgir Hossain presided over the meeting while NBR member (tax administration and human resource management) Abdur Razzaque, among others, spoke at the programme.
Want stories like this in your inbox?
Sign up to exclusive daily email
More Stories from Tax