The country’s six business firms have allegedly evaded Tk 261 in value-added tax (VAT) in the last few years, NBR sources said.
Such incidents of big fraudulence have come to light following a thorough investigation conducted by VAT Audit, Intelligence and Investigation Directorate under the National Board of Revenue (NBR).
Allegations of serious fraudulence have surfaced against those companies that they did not submit VAT to the government’s treasury after collecting from consumers, NBR sources said.
Of the evader companies, only the ST Beverage Limited dodged NBR by Tk 145.65 crore through evasion.
This company is registered with NBR’s large taxpayer unit (LTU) and the LTU asked the company to pay the evaded VAT amount immediately, sources said. The VAT audit and intelligence wing found this big evasion after scrutinising the company’s VAT related documents. The company is located at Shimrail under Shwiddhirgonj upazila of Narayanganj district. Another big dodger company is Pioneer Insurance Company Limited that evaded Tk 37.56 crore as VAT during the period of December 2010 to 2015.
Sources said the VAT audit intelligence after unveiling the company’s such VAT evasion, demanded that the company pay the evaded money to them. And later they sent a report on the incident to LTU on 17 July last year.
However, the company filed a writ petition challenging the exchequer’s claim on 18 October 2017 and the LTU filed a CP against this petition on 29 October the same year.
The LTU later sent a fresh letter to the company asking its next VAT payment related documents with a view to justifying its further VAT payment transparency, sources said.
Besides, VAT audit and intelligence wing conducted raid on Sarkar Industries Limited, located at Kalampur under Dhamrai upazila in Dhaka, on 23 January this year and found that the company evaded Tk 32.19 crore as VAT during the period of July 2012 to June 2017.
Dhaka West Commissionerate for Customs and VAT Excise has formally asked the company to pay those evaded money, sources said.
Asian textile, a concern of Asian group also evaded Tk 6.13 crore as VAT, which has been detected by the VAT audit intelligence through a raid conducted on 29 January this year.
Sources said the company dodged the exchequer by this amount through evading VAT at source.
The revenue authority also found a VAT evasion worth Tk 20.31 crore of Pakija Home Collection and has filed a case against the company due to this fraudulence.
Dhaka South Commissionerate for Customs and VAT excise would take necessary steps as per rules to realise the evaded money from the company, NBR sources said.
NBR’s VAT intelligence wing also detected a VAT dodging worth Tk 20 crore Biltred Engineering Limited and the final report on the issue will be prepared soon, sources said.
NBR sources said the VAT wing earlier formed a taskforce on VAT audit and intelligence to detect VAT evasion made by several companies.
The taskforce members earlier at a meeting prepared a list of top ten tax evader companies and sent a letter to Director General of VAT Audit, Intelligence and Investigation Directorate on 20 December 2017 to look into whether the companies are involved in the VAT evasion.
However, the tax officials, while conducting raid, did not find any irregularities with VAT payment of United Edible Oil, a listed company.
Besides, the VAT audit and intelligence unit did not find the existence of City Steel Builders Dogair, another listed company.
As per the NBR’s information, the company is located at Board Mills area of Demra, Dhaka.
Besides, investigations are underway against two companies Kie Aluminium Limited and Evergreen Lamp Limited, two other listed companies.