The National Board of Revenue’s (NBR) Income Tax Intelligence Unit has frozen the bank accounts of SM Abdul Haque Bhuiyan, owner of Mohakhali’s Khwaja Tower and four other tall buildings nearby, for evading taxes.
From the five buildings, he earns over Tk 100 crore in rent annually, but he concealed a significant portion of that income, evading Tk 14 crore in tax for fiscal year 2024-25, according to income tax intelligence officials.
His fixed deposit receipts worth Tk 20 crore were also blocked from withdrawal or transfer on September 25, NBR’s Income Tax Intelligence Unit Commissioner Abdur Rakib told TIMES of Bangladesh.
According to the NBR, Bhuiyan receives Tk 3.95 crore per month from Khwaja Tower, Tk 2.93 crore from Kaderia Tower, Tk 3.47 crore from Khwaja Palace, and Tk 92 lakh from Haque Tower. His declared residence is in Khwaja Mahal.
All these properties are located in Dhaka’s Mohakhali, Banani, and Gulshan areas.
Abdur Rakib, commissioner of the NBR’s Income Tax Intelligence Unit, said every building owner is required to pay regular income tax.
“So, action will be taken against those who fail to comply. This is our first step,” he added.
The Income Tax Intelligence Unit has instructed relevant institutions to take measures under Section 223 of the Income Tax Act, 2023, to freeze, suspend, or restrict all current, savings, and fixed deposit accounts to boost state revenue.
