NBR freezes bank accounts of 31 private universities

Dhaka, March 31 -- The National Board of Revenue (NBR) has frozen the bank accounts of nearly 31 top private universities, claiming unpaid taxes.

Tax Zone-11 of the NBR has instructed scheduled banks to suspend withdrawals of cash from the bank accounts of those universities.

The private universities concerned, including North South University, Brac University, and People's University, have started visiting the tax zone after banks denied cash withdrawals by the latter.

The NBR's move came following a recent order of the Appellate Division instructing taxmen to collect tax from private universities.

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Published by HT Digital Content Services with permission from The Financial Express....