The New Nation - Internet Edition

Staff Reporter

Four public limited commercial and four government specialised banks owe Tk 895 crore in income tax arrears to the National Board of Revenue (NBR), official sources said.

The NBR last week has requested the Ministry of Finance to deposit the said amount to the government exchequer, as the ministry is parent organisation of the banks.

These banks have not been paying any income tax since 1986-87 fiscal, the revenue authority said in a letter last week and requested the Finance Ministry to make the payment from its specified head of expenditures.

"The payment of long overdue tax money will help the NBR meet its revenue income target," said a high official of the Finance Ministry.

He said the Ministry would prepare a proposal to release Tk 895 crore after the Eid vacation and send it to Finance Adviser Dr Mirza Azizul Islam for approval.

According to the sources, the Bangladesh Shilpa Bank owes Tk 42 crore, Rajshahi Krishi Unnayan Bank Tk 4.72 crore and Bangladesh Krishi Bank Tk 89 crore.

Unpaid income tax of Janata Bank totalled Tk 316 crore, Sonali Bank Tk 279.63 crore and Rupali Bank Tk 48 crore, while Pubali Bank owes Tk 80 lakh.

The NBR realised tax arrears of Tk 1,300 crore from Bangladesh Petroleum Corporation through budgetary provision in the last fiscal year, sources said.