Regent Airways had its bank accounts frozen by the National Board of Revenue (NBR) for avoiding an excise duty of US$1.67 million. The tax is related to air passenger charges in ticket prices.
It is mandatory to deposit such duties into government accounts, however Regent Airways has not complied for a long time, according to the Bangladesh tax regulator.
The airline has not responded to requests from the NBR either. It has seven days to respond to the request, else the government will take the money from the airline's bank accounts.
According to Regent Airways Chief Operating Officer Ashish Choudhury said, “We have talked with the revenue authorities and settled the issue with a mutual understanding today.”