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Nobel laureate Muhammad Yunus faces legal row over taxes
Last Updated: 2013-09-11 14:04 | CE.cn
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By Li Hongmei

Bangladesh's cabinet has ordered "legal action" against 2006 Nobel Peace Prize winner Muhammad Yunus, accusing him of avoiding taxes on income from awards, book royalties and foreign tours.

The cabinet, led by Prime Minister Sheikh Hasina, has asked the tax administration, central bank and banking regulators to take the action in line with "existing laws", cabinet secretary Musharraf Hossain Bhuiyan announced on Monday.

Yunus's office denied the allegations by the National Board of Revenue (NBR), the country's tax authority, calling them "baseless".

It said the micro-credit pioneer has paid all taxes according to Bangladesh's laws.

Yunus, who set up Grameen Bank in 1983 and made it a global success story in tackling poverty, was sacked from the microfinance bank in 2011.

The latest order comes in the wake of a series of statements by Yunus, regarded as a national hero by many, calling for elections under a caretaker administration - a key demand of the country's opposition.

In recent weeks, major political parties, including the main opposition, have rallied around Yunus after a government commission suggested a state takeover of Grameen.

Yunus, who jointly won the Nobel Peace Prize with the bank in 2006 for economic and social development, was fired as head of the bank in 2011 for exceeding the mandatory retirement age of 60.

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