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Old August 3, 2012, 11:09 AM
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AsifTheManRahman AsifTheManRahman is offline
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Friday, August 03, 2012
From Shihab Trading

Media Release
Clarification by Shihab Trading on the ongoing issue with
National Board of Revenue (NBR)

The press release is meant to clarify the ongoing issue between Shihab Trading, exclusive right holders of tickets of the first edition of Bangladesh Premier League and NBR.

Misunderstanding and lack of communication between the parties resulted into NBR freezing Shihab Trading’s bank account to realise the actual tax payable by the company.

Please note that the fact that the ticket’s price were revised twice during the tournament. But NBR was never informed of such change thus the organization imposed Tax on Shihab Trading on the primary figures which is inappropriate. For better understanding the break down of the figures have been mentioned below:


BDT
Total value of the tickets
54.00 Crores
Less. BCB FOC tickets (39.24% of the total value)
(21.19 Crores)
Present value
32.81 Crores

Game On Sports gets 45% of present value
14.76 Crores

5% AIT will be on BDT 14.76 crores
0.74 Crore

Such break down of the figures shows Shihab Trading to owe tax of BDT 74 lacs to NBR. Shihab Trading, BCB and Game On Sports after several meetings agreed upon the mentioned figures and will be providing NBR with such figures.

Please be informed that Shihab Trading will be visiting NBR with appropriate paper works on Sunday, 05, 2012.
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