On a pledge to pay Tk 8.49 billion out of the default tax, four companies under Bangladesh Petroleum Corporation (BPC) averted a move by government's revenue authority to freeze their accounts.
Officials said the BPC authorities agreed Wednesday to pay Tk 8.49 billion out of the arrears in Value Added Tax (VAT) due from last July to April 2016 to the revenue board.
Officials, who attended the meeting, however, said no specific decision was taken at the meeting on payment of Tk 20.18 billion in arrears from July 2013 to June 2015.
The commitment on payment of the dues came in a high-level mediation at the Prime Minister's Office (PMO). The meet was chaired by Principal Secretary Abul Kalam Azad.
Senior secretary of the Internal Resources Division (IRD) and chairman of the National Board of Revenue (NBR) Md Nojibur Rahman, Energy secretary Nazim Uddin Chowdhury and BPC chairman Mahmud Reza Khan, among others, attended the meeting.
The meeting was convened to discuss payment of VAT arrears by the four oil companies -- Padma Oil, Meghna Petroleum, Jamuna Oil and Standard Asiatic Oil Ltd.
The arrears were found having accumulated in the period between July 2013 and April 2016.
Also payment of current FY's due VAT came up for discussion.
The move came after the Chittagong VAT, customs and excise commissionerate under the NBR had started a legal procedure to freeze bank accounts of the four companies for non-payment of overdue VAT.
Talking to the FE Wednesday, NBR chairman Mr. Nojibur Rahman said the BPC has given a positive response to the request for paying the arrears at the meeting.
"The BPC assured us of making the payment within this week," he said.
Responding to a query on payment of the due from BPC's own fund or through book adjustment in the ministry of finance, the NBR chairman said the dues will be paid from BPC's own fund.
Earlier, the Chittagong VAT, customs and excise commissionerate issued a final notice to the four companies under the BPC for paying the due VAT within this week to avoid freeze on bank accounts under section 56 of the VAT law.
Officials concerned said the VAT officials will not go for freezing bank accounts now as BPC agreed to pay a part of the arrears by next Sunday or Monday.
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