SC stays Tk 666cr tax demand on Yunus-founded Grameen Kalyan 

The Appellate Division of the Supreme Court on Sunday stayed a High Court verdict directing Grameen Kalyan, founded by former interim government chief adviser Dr Muhammad Yunus, to pay Tk 666 crore in taxes claimed by the National Board of Revenue (NBR).

The stay will remain in force until December 13, when a full court of the Appellate Division is scheduled to hear two leave-to-appeal petitions filed by Grameen Kalyan.

Chamber judge Justice Md Rezaul Haque passed the order after hearing the petitions filed by Grameen Kalyan seeking a stay on the High Court judgment.

Deputy attorney general Md Mehedi Hasan said the order barred the NBR from taking steps to recover the disputed tax until the Appellate Division considers the matter.

On September 10, the High Court upheld the NBR’s demand for Tk 666 crore in income tax for five assessment years between 2012 and 2017. It also rejected two writ petitions filed by Grameen Kalyan challenging the tax reassessment.

Earlier on September 10, the HC ordered Grameen Kalyan, owned by Nobel laureate and interim government chief adviser Dr Muhammad Yunus, to pay Tk 666 crore in taxes claimed by the National Board of Revenue (NBR).

The ruling upholds the NBR’s tax claim against Grameen Kalyan, requiring the organisation to pay the amount in question.

Grameen Kalyan is a non-profit and charitable organisation founded by former chief adviser to the interim government and Nobel laureate Professor Dr Muhammad Yunus.