Chamber court suspends tax recovery order against Grameen Kalyan

A chamber court has suspended an order requiring Grameen Kalyan to recover Tk 6.66 billion in outstanding tax liabilities, providing temporary relief to the microfinance institution amid an ongoing dispute with tax authorities.

The stay order was issued following Grameen Kalyan's legal challenge to the tax demand. The organisation, which provides financial and social services across Bangladesh, had contested the assessment of the outstanding amount.

The chamber court's decision temporarily halts enforcement of the recovery order while the case proceeds through the judicial system. Grameen Kalyan is expected to present its arguments regarding the tax assessment in subsequent hearings.

The stay provides a reprieve for the institution as it navigates the complex tax dispute. The outcome of the case could have significant implications for Grameen Kalyan's financial operations and its capacity to continue service delivery across its programmes.