The Large Taxpayers Unit (LTU) of the National Board of Revenue (NBR) has asked Islami Bank Bangladesh PLC to settle income-tax disputes involving BDT 4.68 billion, pending with the High Court, through the Alternative Dispute Resolution (ADR) process.
The LTU issued a notice on September 27, asking the bank to submit issue-wise explanations and supporting documents by October 12 to facilitate an early settlement of the disputes.
The largest disputed amount, BDT 1.82 billion, relates to the 2020-21 tax year, followed by BDT 1.22 billion for 2019-20. Together, the two years account for BDT 3.04 billion, or nearly 65 per cent of the total disputed tax.
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