Tax Evasion of Tk 750 Crore: ACC to File Case Against 10 Individuals, Including Two Sons of S. Alam

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News Desk:
The Anti-Corruption Commission (ACC) has approved the filing of a case against 10 individuals, including two sons of S. Alam Group Chairman Saiful Alam, on charges of evading approximately Tk 750 crore in taxes.

On Wednesday, ACC Director General Md. Akhter Hossain confirmed the matter to the press.

The accused include Saiful Alam’s sons, Ashraful Alam and Asadul Alam Mahir, former Deputy Tax Commissioner Aminul Islam, and seven officials of First Security Islami Bank.

The bank officials are: Senior Vice President Md. Helal Uddin, Branch Manager Muhammad Amir Hossain, former Senior Assistant Vice President Md. Ahsanul Haque, former Senior Assistant Vice President Ruhul Abedin, Officer Shamima Akter, Md. Anis Uddin, and Gazi Muhammad Yakub.

According to ACC sources, the accused colluded to commit forgery and fraud by using fake pay orders. Although they were supposed to pay Tk 125 crore in taxes to legalize Tk 500 crore of undisclosed income, they paid only Tk 50 crore. As a result, the government lost Tk 75 crore in revenue.

In October last year, the National Board of Revenue (NBR) temporarily suspended three senior officials of the Income Tax Department on allegations of accepting bribes and granting undue benefits in the tax files of Saiful Alam’s two sons. Based on these allegations, the ACC launched an investigation.

The Awami League–led government had allowed the legalization of undisclosed income between July 1, 2020, and June 30, 2021, by paying a flat 10% tax.

According to NBR calculations, even at the maximum individual tax rate of 25%, Ashraful and Asadul were required to pay at least Tk 125 crore in taxes against their undisclosed Tk 500 crore. However, they paid only Tk 50 crore to whiten the money.