Bangladesh court orders Yunus founded company to pay €46m in taxes

The High Court in Bangladesh on Thursday has ordered a company founded by former chief adviser to the interim government Muhammad Yunus, to pay about 46 million euros (666 crore Bangladeshi Taka) in taxes claimed by the National Board of Revenue (NBR), local media reported.

The court asked the company named Grameen Kalyan, a non-profit social business company to pay the amount within the next three fiscal years, reported The Business Standard a leading English language daily newspaper published from Dhaka.

The court has ordered the non-profit social business company to pay the amount within the next three fiscal years.

The NBR raised the tax demand for five tax years – from 2012-13 to 2016-17 – after reassessing Grameen Kalyan's taxes.

The tax dispute concerns tax deducted at source from dividends received from Grameenphone.