Yunus\'s wealth several times higher than he disclosed: NBR - GBnews24
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Yunus's wealth several times higher than he disclosed: NBR

The National Board of Revenue (NBR) has launched an investigating into the alleged tax evasion by Grameen Bank founder Dr Muhammad Yunus.

 

In a statement issued on Monday, the NBR said Dr Yunus concealed information about his wealth and income, and his wealth will be several times higher than the amount he disclosed.

 

An intelligence agency carried out an investigation into his wealth at home and abroad and they found the information about financial transactions between Dr Yunus and high profile businessmen and organisations in abroad. 

 

The statement also said NBR is investigating the legality of the fund transaction from Grameen Bank to his other organisations owned by Dr Younus. The tax authority is also investigating the sources of the funds which he donated to Clinton Foundation and the fee he earned for carrying the RIO Olympic torch.

The NBR is also monitoring the cases filed by Dr Yunus with the High Court to avoid paying taxes.

 

 

The tax authority is also investigating the process of receiving donations by three organisations---Professor Dr Muhammad Yunus Trust, Yunus Family trust and Yunus centre--- and others sources of income and the expenditure of the Grameen Bank founder.

 

The revenue authority found irregularities in the process of donation of Tk 77.38 crore to the three trusts---Professor Dr Muhammad Yunus Trust, Yunus Family trust and Yunus Center---dodging taxes during the period of 2011-12 to 2013-14.

 

NBR demanded Tk 15.40 crore in tax against the donation of Tk 77:38 crore from Dr Yunus. He lodged appeals with the Tax Commissioner and the Tax Tribunal against the NBR’s claim. Dr Yunus moved filed petition with the High Court after his appeal was rejected. 

 

In reply to a question regarding the issue, Prime Minister Sheikh Hasina on January 25  told parliament that “He (Yunus) owns millions in cash deposited in banks but has not paid a single penny as tax. He even failed to show the sources of the huge amount of money deposited in banks,” she added.

 

The premier said Grameen Bank rightfully enjoyed a tax waiver, but he (Yunus) had set up a number of other organisations.

 

“Those organisations were not exempted from tax. Why does the government not get taxes from those organisations? Why do those organisations not pay tax? The NBR has kept reports on this matter,” the premier said.

 

A day after this, Finance Minister AMA Muhith told reporters that an investigation was underway by the NBR into the abuse of tax facilities by Dr Yunus.

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