NBR detects Tk 300m VAT evasion
Saturday, 9 January 2010
FE Report
The NBR has recently detected evasion of a substantial amount of value added tax (VAT) by a leading glass sheet manufacturer. The CIC has estimated the evasion at around Tk 300 million.
A top revenue official said the company evaded the payment of VAT that it collected from its buyers.
CIC has also detected evasion of income tax worth about Tk 40 million by the company owner and his wife, he said.
"We will try to realise the taxes along with penalty through negotiation and one-to-one discussion. If the initiative fails, the CIC will file tax evasion cases against the company."
Central Intelligence Cell (CIC) of the National Board of Revenue (NBR) has moved to take action against the tax-evaders on the basis of secret information collected from different reliable sources, officials said.
The CIC has received more than hundreds of information in recent times on evasion of income tax, value added tax (VAT) and customs duty. The cell has launched a special drive from January 1 to realise due taxes and check evasion, they said.
The CIC has planned to take legal action against some big fishes, if it fails to collect taxes from them.
CIC has drawn an action plan for the current calendar year to launch the special drive on the basis of secret information, he said. Under the move, it has recently detected a large amount of duty evasion in Mongla port through false declaration.
The department could play a major role to enhance tax collection, if it investigates properly on the basis of secret information, the official said.
CIC has conducted financial enquiry of some selective group of people that include consultants, physicians, lawyers, service holders and businessmen.
Intelligence team has targeted to identify false declaration of import and under invoicing, businesses concealing actual sales information and income tax dodgers.
The CIC will launch more criminal cases against the tax-evaders in the current fiscal. NBR has filed a total of 72 tax evasion cases in 2007 to 2009 period, he added.
The NBR has recently detected evasion of a substantial amount of value added tax (VAT) by a leading glass sheet manufacturer. The CIC has estimated the evasion at around Tk 300 million.
A top revenue official said the company evaded the payment of VAT that it collected from its buyers.
CIC has also detected evasion of income tax worth about Tk 40 million by the company owner and his wife, he said.
"We will try to realise the taxes along with penalty through negotiation and one-to-one discussion. If the initiative fails, the CIC will file tax evasion cases against the company."
Central Intelligence Cell (CIC) of the National Board of Revenue (NBR) has moved to take action against the tax-evaders on the basis of secret information collected from different reliable sources, officials said.
The CIC has received more than hundreds of information in recent times on evasion of income tax, value added tax (VAT) and customs duty. The cell has launched a special drive from January 1 to realise due taxes and check evasion, they said.
The CIC has planned to take legal action against some big fishes, if it fails to collect taxes from them.
CIC has drawn an action plan for the current calendar year to launch the special drive on the basis of secret information, he said. Under the move, it has recently detected a large amount of duty evasion in Mongla port through false declaration.
The department could play a major role to enhance tax collection, if it investigates properly on the basis of secret information, the official said.
CIC has conducted financial enquiry of some selective group of people that include consultants, physicians, lawyers, service holders and businessmen.
Intelligence team has targeted to identify false declaration of import and under invoicing, businesses concealing actual sales information and income tax dodgers.
The CIC will launch more criminal cases against the tax-evaders in the current fiscal. NBR has filed a total of 72 tax evasion cases in 2007 to 2009 period, he added.