The National Board of Revenue (NBR) has accused two Summit companies of evading BDT 1,112 crore in taxes through improper dividend transfers. According to NBR investigations, the companies failed to deduct source tax as required, leading to the revocation of previously granted tax exemptions.
In response, authorities have initiated legal actions and plan to recover the unpaid taxes retrospectively by issuing demand notices and enforcing regulations. Summit has denied any wrongdoing, asserting compliance with the law upon notification by the authorities and expressing a willingness to cooperate in resolving the matter. The case highlights the critical importance of adhering to tax regulations to avoid financial and legal consequences.
Source: Business Inspection BD
