A VAT intelligence team has seized four containers with import-restricted products from Mongla port after detecting irregularities in its investigation.
It has also locked Business Identification Number (BIN) of those importers and asked banks to freeze their bank accounts, said a statement issued by VAT Audit, Intelligence and Investigation Directorate.
The VAT intelligence team has seized four containers of banned poppy seeds imported by Ayesha Traders and Taz Traders.
They also suspected irregularities in release of 15 consignments of tennis ball and party spray by the same importers earlier under false declaration.
The intelligence is investigating whether those consignments have declared products and did they pay VAT on the products properly. The VAT intelligence collected some documents from Pubali Bank Begum Bazar Branch and found a gross mismatch in import information on those products.
As per VAT registration information, their business establishment has not been found at Chawkbazar in Dhaka. VAT registration and trade licence address of Taz Traders is 10/B, Swarighat, Dhaka and Ayesha Traders 10/D, Champatali, Chawkbazar, Dhaka.
As the intelligence team has not found the traders in their address and detected gross mismatch in import products, it has locked their BINs and asked banks to freeze their bank accounts. They suspected that the traders may transfer the fund from their accounts until the investigation ends or may release their other consignments at the port.
It has sent notice to Pubali Bank Begum Bazar Branch and all other banks through Bangladesh bank to make their bank account inactive. Their BINs have been locked in the Asycuda software of the National Board of Revenue. The VAT intelligence has taken action as per sections 82, 83, and 91 of VAT law.
In an investigation, the VAT intelligence found that those importers have not submitted VAT returns properly and furnished different wrong information in the local VAT offices.
As per information collected from banks, owners of Taz Traders and Ayesha Traders are Md Sabbir Hossain and Akbar Hossain respectively.
VAT intelligence is also carrying out further investigation in this regard.
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