NBR moves to check use of counterfeit band-rolls

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The National Board of Revenue (NBR) has asked the Security Printing Corporation Bangladesh Limited (SPCBL) to change the holographic security features of the band-rolls (foil) used on soft drinks and mineral water bottles and soap packets suspecting roaring business on the use of counterfeit band-rolls in the country, reports UNB.
"We have already sent a proposal in this regard to the SPCBL and the new features will be included in the next consignment of the band-rolls," a high official of the NBR told the news agency Wednesday.
NBR sources said that the holographic feature foil for the soft drink and mineral oil bottles and soap were supplied by the SPCBL. Currently, there were allegations received by the revenue board that the holographic foils were being supplied to the soft drink and mineral water bottles and soap manufacturers in a different way.
It is mandatory to get the feature foil from the SPCBL after approval from the NBR. The revenue-collecting authority asked the SPCBL to provide a number of foils to a company after getting their application.
SPCBL gets an amount for supplying the holographic feature foils to the companies from the NBR.
The feature foils were introduced for different items in the country to ensure proper payment of VAT into the national exchequer.
Currently, soft drink and mineral water and soap companies have to pay 15 per cent VAT for selling their products. Apart from paying 15 per cent VAT, the soft-drink companies have to pay another 15 per cent as supplementary duty to the NBR. The total tax incident (TTI) for the soft drinks stands at 32.5 per cent.