Business Report :
The government has reinstated Grameen Bank’s tax exemption for the next five years, extending it until December 2029.
The National Board of Revenue (NBR) issued a gazette on Thursday, confirming the reinstatement of Grameen Bank, founded by Nobel Laureate Prof Muhammad Yunus, now the chief adviser of the interim government.
“This facility became effective the day the order was issued,” the notification said, signed by NBR Chairman Abdur Rahman Khan.
However, Grameen Bank will still be required to submit annual income tax returns, as per the gazette. Grameen Bank has enjoyed tax exemption since its inception in 1983, as its activities are primarily focused on poverty alleviation.