The tax-related information of some 40 companies is under scrutiny of the Anti-Corruption Commission (ACC) as part of investigating allegations of money laundering and tax evasion against those firms.
The anti-corruption watchdog singled out 132 companies for suspected tax evasion and money laundering worth Tk 4.16 billion. It has so far received detailed information of 30 per cent of those companies from the National Board of Revenue (NBR).
A senior official of the ACC said it takes time to compile all the required information, as it includes many financial reports.
Last year, the ACC formed a five-member committee to prepare a report after investigating the allegations against the companies, mostly export-oriented.
Recently, the entity has sought details of five more export-oriented companies from the Customs Bond Commissionarate, Dhaka (CBC).
The companies include Bobi Denim Composite Limited, China-Bangla Packaging and Printing Industries Limited, Dress ME Fashion Limited, Fahami Washing Planting Limited, and Zara Accessories Limited.
Bobi Denim Composite Limited is a sister concern of the controversial Hallmark Group, which was put into auction in 2017 and was valued at Tk 130.9 million.
China-Bangla Packaging and Printing Industries Limited was never a member of the Bangladesh-China Chamber of Commerce and Industry (BCCCI), said Al Mamun Mridha, joint secretary general of the trade-body.
The FE correspondent tried to contact the spokesperson of the company, but contact of the latter was not available on the website.
The watchdog has sought audit reports of fiscal year (FY) 2015-16 and 2016-17, bond licence, pass book, bill of entry, assessment notice, and records on payment of tax and duties of those companies.
The ACC official said they are waiting for obtaining details from the CBC to proceed further.
Recently, CBC Commissioner Kazi Mustafizur Rahman sought the NBR's approval (in this regard). He said the NBR allowed them to send the information to the ACC without its approval.
ACC chief lawyer Khurshid Alam Khan said the ACC law empowers it to seek information from the NBR for investigation. In case of non-cooperation, the ACC can take legal actions for not giving it required documents.
However, the government entities can seek time for arranging and compiling the ACC-required information by sending a written letter, he added.
Of the companies, some are deemed exporters, which mainly export garment accessories and packaging materials.
Abdul Kader Khan, former president of the Bangladesh Garment Accessories, Packaging Manufacturers and Exporters Association, said value addition in accessories sector is higher than other exporters, and there is little scope to evade tax and duties in this sector.
"In my 35 years of business, I have not found many allegations of evading tax and duties in accessories exports," he added.
According to the ACC Rules 2019 (amended on June 20, 2019), the anti-graft watchdog investigators or inquiry officers are empowered to seize, search and examine bankers' books and tax files of corruption suspects, or they can ask the authorities concerned for providing the ACC with copies of their confidential information.
The ACC's previous rules of 2007 had empowered the constitutional body to take actions against the Bangladesh Bank and the NBR for their failure in furnishing the ACC with the confidential information sought.
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