Bangladesh’s Central Intelligence Cell (CIC) is using the double-taxation-avoidance agreement (DTAA) to reclaim assets siphoned off by tycoons to five countries: the UK, USA, Canada, Singapore, and UAE. The CIC seeks data on top business groups’ owners and associates, including Nasa Group’s Nazrul Islam Mazumder, S. Alam Group’s Md Saiful Alam, Summit Group’s Muhammad Aziz Khan, Beximco Group’s Salman Fazlur Rahman, and Aramit Group’s Saifuzzaman Chowdhury. The National Board of Revenue (NBR) will use DTAA provisions to request information and potentially repatriate assets. Existing DTAAs, some signed decades ago, may need revision. The agreements prevent double taxation and ensure tax compliance. Chartered accountant Snehasish Barua asserts that current DTAAs suffice for information exchange. The initiative aims to address offshore asset concealment and enhance tax enforcement.
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