Biz-Econ

Grameen Bank gets tax exemption back till 2029

Grameen Bank has got its tax exemption benefits back after around four years.

The National Board of Revenue, NBR, issued a notification on Thursday, granting the bank the benefits until December 31, 2029.

However, the lender will have to submit an income tax return every year.

Since its establishment in 1983 under a military ordinance, Grameen Bank has received a tax exemption under Section 33 of the Grameen Bank Ordinance.

On January 1, 2021, the then Awami League-led government scrapped the benefits.

SM/MSU