MD ASADUZ ZAMAN

The National Board of Revenue (NBR) has identified dozens of properties in Dubai owned by Bangladeshis, a senior official familiar with the matter has told The Daily Star.

The discovery comes two months after the tax administration sent two teams of tax intelligence officers to the United Arab Emirates to assess tax compliance and track overseas assets held by Bangladeshi citizens.

“During on-site visits, we found several dozen properties owned by Bangladeshis in Dubai,” the NBR official said.

A 2021 estimate by the EU Tax Observatory revealed that Bangladeshis own $260 million (Tk 3,114 crore) worth of offshore real estate in Dubai, making it their second-most popular destination for second homes after Singapore.

In a separate investigation, The Daily Star found 929 properties registered in the names of 461 Bangladeshis in Dubai. Of these properties, 259 are registered under the names of politicians, business magnates, and bankers.

All 461 names and the number of properties listed under them are based on 2020 and 2022 data compiled by The Center for Advanced Defense Studies, a Washington-based non-profit.

The NBR official said they are also looking into other such hubs, including London.

“This is a large-scale investigation and it’s not limited to Dubai. We are also working on cases in the UK, the US, Singapore and other locations.”

One subject of the ongoing scrutiny is Mohammed Mahtabur Rahman Nasir, owner of Bangladesh’s Al Haramain Perfumes chain, who stands alleged of tax evasion and illegal money transfers (hundi) disguised as perfume sales and import-export activities.