HC orders Yunus-owned Grameen Kalyan to pay Tk666cr in taxes

The High Court has ordered Grameen Kalyan, an organisation owned by former interim government chief adviser Prof Muhammad Yunus, to pay Tk666 crore in taxes claimed by the National Board of Revenue (NBR).

The HC bench of Justice Md Mozibur Rahman Miah and Justice Rezaul Karim passed the order on Thursday, rejecting the rule issued in connection with two writ petitions filed by Grameen Kalyan in 2017.

Barrister Abdullah Al Mamun and Barrister Fida M Kamal appeared for Prof Yunus and Grameen Kalyan at the hearing, while Deputy Attorney General Abdus Samad Azad represented the state. 

According to the deputy attorney general, the dispute arose over an agreement between Grameen Kalyan and Grameen Telecom under which Grameen Telecom would provide financial assistance to Grameen Kalyan. In return, Grameen Kalyan was to receive 42.50% of profits earned by Grameen Telecom from dividends on its shares in Grameen Kalyan.

The NBR later reopened Grameen Kalyan’s tax file under Section 120 of the relevant law and found that tax had allegedly not been deducted at source from the profit received from Grameen Telecom.

Grameen Kalyan subsequently filed a revision petition before the Commissioner of Taxes and later challenged the matter before the High Court.

The case had earlier taken an unusual turn after another HC bench recalled, on its own motion, a judgement concerning the Tk666 crore tax demand on 4 October 2024 following the July mass uprising. The case records were then sent to the then chief justice and subsequently assigned to the new bench.

The latest verdict clears the way for the NBR to recover Tk666 crore from Grameen Kalyan in accordance with law and issue a fresh demand notice.