NBR attaches bank accounts of 2 ICB cos

Staff Correspondent | Updated at 01:33am on June 16, 2017

The National Board of Revenue on Thursday attached bank accounts of two subsidiaries of the Investment Corporation of Bangladesh for non-payment of corporate tax of Tk 130 crore for five years.
Due to the bank account attachment, ICB Capital Management Company Limited and ICB Securities Trading Company Limited will not be able to operate their accounts, except for salary disbursement, said NBR officials.
The large taxpayers unit under the income tax wing of NBR sent a letter to IFIC Bank, where the companies are maintaining the accounts, to attach the accounts.
The entities will not be able to deposit or withdraw money from their bank accounts because of the attachment, said officials.
ICMCL owes Tk 78 crore and ISTCL owes Tk 52 crore as corporate income tax to the LTU.
However, salary accounts of the two companies remain opened for payment of salaries of their employees before Eid-ul-Fitr.
Investment Corporation of Bangladesh managing director Iftikhar-uz-Zaman told New Age that they differed with the
NBR estimation of the due taxes.
‘As per our estimation, the due amount would be much lower,’ he said.
He said that the companies would pay 10 per cent of the NBR claim by Sunday and expected that the attachment would be lifted after the payment.
‘The ICB will take measures to resolve the issue after that,’ he said.