The tax authority is set to collect Tk 2.5 billion in unpaid taxes from frozen bank accounts of around 20 private universities, which have been unresponsive for two months. Since March 15, 2024, bank accounts of 22 universities have been frozen following a February 27 court verdict enabling tax collection with retrospective effect under the income tax act-2023. Recently, Tk 1.25 billion was collected from North South University, Tk 130 million from Independent University, and Tk 100 million from East-West University. Total arrear taxes of Tk 1.48 billion were also collected from three banks in Dhaka. The NBR has frozen accounts of 33 private universities, 11 of which have paid taxes partially or fully. Despite the legal backing, some university representatives criticized the lack of prior discussion. The tax, imposed in 2007 at 15% on annual income, has been contentious, leading to a prolonged legal battle.
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