NBR suspects tax evasion by Partex, starts probe

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Doulot Akter Mala
National Board of Revenue (NBR) has launched investigation against a leading industrial group and its nine directors suspecting their involvement in tax evasion and concealment of wealth information in tax returns.
A total of 23 companies of the Partex group and the directors will come under scanner of the NBR intelligence team in phases to find out the actual amount of tax evasion, according to reliable sources.
The central intelligence cell (CIC) of NBR has initiated the move on the basis of information concerning evasion of customs duty, value added tax (VAT) and income tax by the owners of the Partex group.
The intelligence team might freeze their bank accounts as part of legal action, the officials said.
The intelligence team has also detected evasion of tax worth millions of taka by showing abnormally low price of land in a number of purchase deals.
The CIC has found that nine directors including the chairman of the group of companies have concealed information on actual volume of bank deposits and other wealth in their income tax files.
The CIC is scrutinising the income tax files of Partex group owner and nine of his family members, who are directors of the company, to take necessary action for evasion of a large amount of tax.
Officials said the CIC had tried to settle the issue by mutual understanding rather than taking any tough action. A team has also visited Partex group to find out tax evasion.
"The intelligence team has received no cooperation from the company in its investigation," said an official.
The CIC has already frozen bank accounts of some politicians and businessmen for tax evasion and concealment of wealth information in the tax files.
Officials said the tax intelligence team has geared up its effort since January last to detect tax evasion and boost revenue collection.