Professor Yunus cannot be exempted from gift tax: HC

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Professor Yunus cannot be exempted from gift tax: HC

Shawdesh desk:

The High Court on Wednesday rejected three writ petitions filed by Grameen Kalyan and Grameen Telecom over the legality of the National Board of Revenue’s claim of Tk 15 crores as gift tax of the two companies between 2012 and 2017.

Yunus in the petitions prayed exemption on tax of the amount he and his family members gifted to three charity organistion as per the Gift Tax Act 1990. according to his writ petitions.

The High Court, in the verdict, upheld the National Board of Revenue’ demand that Yunus must pay tax on the gift amount.

A bench of Justice Muhammad Khurshid Alam Sarkar and Justice Sardar Md Rashed Jahangir pronounced the verdict.

Yunus’s lawyer Mustafizur Rahman Khan told NewAge that he would take next course of legal action after getting advice from his client.

Attorney general AM Amin Uddin opposed Yunus’s writ petitions, stating that NBR claim on the gift tax was legal.