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“Our files came under audit by the tax office,” he said, adding that they will follow due legal process.

The CIC found that M/S Fakhor Uddin is a shareholder of Hotel Star Pacific, Casablanca Hotel & Restaurant, Sylhet Communications Systems Ltd, and International Securities Ltd.

“The individuals have run the firms and used them as a medium to evade taxes,” said an NBR document.

For this reason, the tax authority took legal measures and asked banks to freeze the accounts of the taxpayers, including their firms, in February.

Based on a writ petition filed by the taxpayers, the High Court last week stayed the NBR directive to block the accounts of International Securities Ltd.

Undisclosed offshore investment found

The CIC also found an undisclosed offshore investment made by Fakhor and Nahian in an under-construction 33-storey complex in Dubai.

The project consists of 224 apartments, including studio, one-bedroom, two-bedroom, and three-bedroom units, along with shared facilities such as a gym and a swimming pool, according to the NBR, which sent teams to Dubai in January to gather information on undisclosed assets of Bangladeshis abroad.

The tax administration said it is probing the matter to recover taxes and penalties.

As per the Income Tax Act, 2023, all Bangladeshi residents must disclose any foreign assets or investments in their tax filings, the NBR said.

However, the individuals have not reported offshore investments in their tax files, which is a violation of tax laws.

Speaking to The Daily Star, Nahian refuted those allegations as well, saying, “I have no financial investment in the Dubai project. The developer hired me as a sales agent, and we signed the agreement on July 2, 2024. I have a residence permit in Dubai. I have not laundered money in any way. Since I signed it in July last year, I still have the opportunity to include it in my tax file.”