Adcomm clarifies position on VAT evasion

The advertising firm Adcomm on Wednesday clarified its position regarding the reports carried out by different media outlets on alleged VAT evasion by it.
In a press statement on Wednesday the firm said till date all the VAT had been paid as per guidelines.
Responding to an allegation of VAT authorities on non-payment of the right amount of VAT, it said the authorities carried out a routine investigation and did not seek any clarification or justification from them in this connection.
"While there is an on-going routine investigation, the authorities concerned have not come to us with their findings," the Adcomm Limited said in the statement.
Over the last 5 years Adcomm Limited had paid more than Tk 210 million in VAT and this is the first time in the last 45 years that such allegations have been brought against the firm, it added.
Earlier, the VAT intelligence team sued the firm as per VAT law over alleged VAT evasion.