Banks asked to submit Grameenphone account details

The National Board of Revenue (NBR) has asked the commercial banks to submit detail bank account information of Grameenphone for the calendar year  of 2013.

The Large Taxpayers Unit (LTU) of NBR has served a letter recently to the banks. It asked them to send bank transaction statements of the leading mobile phone operator on emergency basis.

The tax authorities require the bank transaction statement to assess the tax file of Grameenphone for the fiscal year 2014-15, mainly for audit purposes.

The NBR letter, however, did not mention any deadline for the submission of the data.

According to bank officials, seeking transaction report of commercial entities is nothing special.

Rather, it is a regular practice of NBR for conducting assessment of any tax files selected for audit.

Under the process, the National Board of Revenue scrutinises tax files of business organisations with the bank transaction statements to find out whether there were any inconsistencies.