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.

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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.

Nasir, a prominent businessman in Sylhet, denies wrongdoing.

"We have conducted raids at Nasir's residence, Kazi Castle in Sylhet, and obtained important documents," the official said. "We are verifying the gathered information."

Among the seized records were 104 land deeds tied to Nasir and his family.

The NBR also found discrepancies between the land values declared in his tax filings and those in official records.

Tax investigators further found properties in his name in Dubai and Sharjah, including a large showroom.

On 22 January this year, the NBR froze Nasir's and his family's bank accounts.

Their tax records are under review and land registry offices have been asked to supply further details.

Nasir dismissed the allegations, saying that he has invested in Bangladesh in full compliance with the law.

"I have been doing business in the Middle East for a long time. To this day, I have never taken a loan from any bank. I have never engaged in any illegal activities. As for hundi, far from being involved in it, I consider it my greatest enemy," he told The Daily Star over the phone from Saudi Arabia recently.

"In the Middle East, we have operations with goodwill in Saudi Arabia, Oman, Kuwait, Qatar, Bahrain, and the UAE. Additionally, we have offices in the USA and the UK," he said.

Regarding the 104 land deeds, Nasir said most were small purchases made by his father in 2008 in their village.

"The majority of our properties are properly declared in our tax records. If anything is missing, I have no issue -- I am willing to provide all necessary documents," he added.

The NBR expects to finalise its report soon.

The National Board of Revenue (NBR) has detected tax anomalies amounting to over Tk 58 crore involving five individuals and their companies, including a former president of the Chittagong Stock Exchange (CSE).

On Friday,

The NBR flagged tax anomalies amounting to over Tk 58 crore involving Fakhor Uddin Ali Ahmed, a former president of the Chittagong Stock Exchange, and four of his relatives.

The tax administration said it had found an undisclosed offshore investment made by Fakhor in an under-construction 33-storey complex in Dubai.

Additionally, the official said the anti-graft agency has blocked another business tycoon from leaving Bangladesh over undisclosed Dubai assets.

"Our teams have found a hotel, an apartment, and land in his name in Dubai. We suspect that he may try to sell the properties abroad if he leaves the country."