2024-05-05 10:23:08
Officials of Tax Zone 15 of the National Board of Revenue (NBR) went to the bank’s Gulshan branch on April 30 to collect tax funds from the account of Ulka Games Limited, a customer of BRAC Bank. First, it wasn’t an expedition. Officials did not even go to collect tax money from BRAC Bank. Rather, their goal was to collect tax money from the bank’s customer institutions. The mention of tax evasion by banks in various media is completely false. Media reports on the whole incident have been misrepresented.
BRAC Bank could not pay the company’s taxes to NBR officials due to the Supreme Court’s High Court order. The branch manager informed the NBR officials in writing about this unintentional non-compliance. There was no room for non-cooperation on the part of BRAC Bank. This step has been taken to follow the directions of the court properly out of respect for the law and to avoid contempt of court.
On May 1, a vacation bench of the High Court issued a stay on the transfer of Ulka Games funds till a hearing scheduled for May 5, 2024. After the hearing, BRAC Bank will take appropriate action as per the direction of the court. BRAC Bank is fully committed to ensure full cooperation to NBR in collection of tax money.