Ex-AL MP Salam Murshedy allegedly conceals Tk55cr in assets, income

Former Awami League-backed MP and business leader Abdus Salam Murshedy allegedly concealed assets and income worth more than Tk55 crore by failing to show fixed deposit receipts (FDRs) and money received from companies linked to him, according to National Board of Revenue (NBR) officials.

The NBR's Income Tax Intelligence and Investigation Unit found evidence of alleged asset concealment dating back to the 2018-19 tax year. The amount involved in undisclosed FDRs and deposits reportedly rose from Tk23 crore to Tk33.65 crore by 2024-25.

Investigators also found that Murshedy received around Tk33 crore in his bank accounts from companies associated with Envoy Group over several years but did not disclose the income in his tax returns.

Including taxes and penalties, the NBR has estimated the alleged tax evasion at around Tk32 crore. It is also examining the tax returns and financial transactions of his wife and two children to identify any further instances of concealed assets and income.

Murshedy, who was elected MP in the 2018 national election, was arrested following the 2024 July Uprising and has since remained in jail.

A senior income tax intelligence official confirmed that they had received around Tk9.76 crore in tax related to the investigation.

The official said investigators had found around Tk33 crore transferred to Murshedy's bank accounts from different companies in which he served as a director.

"We expect to uncover evidence of significant asset concealment and tax evasion," the official said.

However, Murshedy's daughter Shehrin Salam, a barrister, said her family was aware of the tax authorities' claim involving around Tk22 crore in assets and had subsequently begun paying the amount in monthly instalments.

"The tax authorities demanded around Tk12 crore, and we have already paid around Tk10 crore," she said, adding that the family had not received any other tax demand.

She also denied being aware of any further investigation involving other family members and said the authorities had not communicated the latest claims to them.

"We don't know anything, and they [NBR] have put in a figure. I'm just surprised that the amount hasn't reached Tk100 crore," she said.

Shehrin also warned that publicity surrounding tax investigations could discourage compliance, saying the family had been cooperating with the authorities' demands.

The income tax intelligence official said the unit was not responsible for directly contacting the taxpayer or their family.

"After finalising the amount of concealed income and tax evasion, we send the findings to the relevant tax office, which then communicates with them accordingly," the official said.

Tax treatment of company payments

Apurba Kanti Das, a former member of the NBR's Income Tax Policy Wing, said payments made by a company to its director could be treated as dividend income, depending on their nature, and may be subject to a 15% tax rate.

"If the recipient conceals the amount in their income tax return, they will have to pay the applicable taxes and fines," he told TBS.

However, the precise tax treatment depends on whether the money was received as dividends or under another arrangement, such as a loan.

Former income tax commissioner Bazlul Kabir Bhuiyan said a company director could lend money to a company but could not borrow from it under the applicable legal provisions.

Separate case over Gulshan property

Meanwhile, testimony-taking has begun in a case against Murshedy and 12 others over the alleged misappropriation of 27 kathas of government-owned property in Gulshan-2, Dhaka.

According to the chargesheet, the accused allegedly abused their positions and created forged records relating to a plot in the Gulshan residential area.

The property had been listed as abandoned in the "Kha" category in a gazette published by the Ministry of Housing and Public Works. The chargesheet alleges that the accused created false records without removing the property from the abandoned-property list and facilitated its alleged misappropriation through transfer permission and mutation.

Murshedy was a prominent footballer in Bangladesh during the 1980s and 1990s before entering business and building a career in garment exports.

He served as president of the Bangladesh Garment Manufacturers and Exporters Association in 2010-11 and as a vice-president of the Bangladesh Football Federation.