A Bangladeshi court on Wednesday upheld a government order for the world's largest non-governmental organization, Bangladesh Rehabilitation Assistance Committee, BRAC, to pay about 4 billion Bangladeshi taka (50 million dollars) in income tax from the 11 years between 1993 and 2012.
Chief Justice Surendra Kuma Sinha pronounced the verdict after hearing appeals filed by the government against a previous High Court ruling in favour of BRAC.
"Today's ruling overturned the High Court verdict from 2014 which declared that the income from BRAC's social development programmes would be exempt from income tax," BRAC said in a press statement.
In the same statement, BRAC said it is a non-profit organization and the income generated by its social enterprises supports its social development programmes.
"BRAC respects the latest ruling by the Supreme Court, the full text of which has not yet reached BRAC management," the statement added. "Once this verdict is received, we will take legal counsel and decide our next course of action."
The organization's social development programmes will not be adversely affected by the ruling, it said.