NBR seeks Debapriya’s bank account details

The National Board of Revenue (NBR) has asked banks to provide financial information on accounts held by Centre for Policy Dialogue’s Distinguished Fellow Debapriya Bhattacharya, his wife and their family members within seven days.

The tax authority has also sought information on stockmarket investment by Debapriya and his wife Irina Bhattacharya from the Central Depository of Bangladesh Ltd (CDBL).

The Central Intelligence Cell of the NBR issued separate letters to all banks and the CDBL on January 4 to this effect.

In the letter, sent to banks, the tax authority asked for information of all accounts in the name of the taxpayers, individually or jointly, having any type of fixed deposit, savings and loans.

It asked them to provide information on foreign currency accounts, credit cards, savings instruments, investments or deposit schemes or any other type of accounts held by Debapriya, Irina and their family members.

Banks were asked to furnish information including collateral against loans since July 1, 2008.

"It should be mentioned that information of the accounts that were closed will have to be provided," said the NBR letter.

In the letter sent to the CDBL, the NBR asked for share investment related or beneficiary owner's account information on Debapriya, Irina and their family members. 

It said information of the BO accounts, held by the persons and their family members individually or jointly, since July 1, 2008 should be given.

In the both letters, the NBR threatened banks and the CDBL with fine and prosecution for any delay and failure in furnishing information within the stipulated time.

Contacted Debapriya said, "The NBR will do whatever is legally needed within its mandate. However, this is not a new experience for me."

"In 2003, during the then BNP regime, I had to face similar harassments in the context of my critical observation on the state of economy," he added.

The move from the NBR came a day after the CPD, in its review of the country's economy -- The State of Bangladesh's Economy in FY 2015-16 -- cautioned that revenue collection might fall short of the target by around Tk 40,000 crore in the current fiscal year.

The CPD also pointed out the discrepancy on revenue collection data provided by the NBR and the Integrated Budget and Accounting System reported by the finance ministry.

In 2014-15, the NBR reported a collection of Tk 136,724 crore. The amount reported by the finance ministry was Tk 123,959 crore in the same fiscal year, according to the CPD.

"Such discrepancy has an adverse impact on the quality of fiscal and budgetary policymaking and planning," said the think-tank.

The CPD also came under fire from top government functionaries including Commerce Minister Tofail Ahmed last month when it said Bangladesh has not gained much from the 10th ministerial conference of the World Trade Organisation.