LTU unearths 'big chunk' of VAT evasion
36 companies evade Tk 33.90 billion in VAT in FY19
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Some 36 multinational and local companies evaded Taka 33.90 billion in Value Added Tax (VAT) in fiscal year 2018-19.
Large Taxpayers Unit (LTU) of National Board of Revenue (NBR) detected the evasion through scrutinising the documents submitted by the companies, reports BSS.
LTU Commissioner Muhammad Mubinul Kabir on Tuesday said LTU successfully discovered the big chunk of evasion as it has strengthened its scrutiny activities.
“We found that these companies either submitted wrong information or violated the law to run their business,” he added.
Kabir said they have issued show-cause notice and demand letter to these companies.
Meanwhile, few companies have deposited Taka 138.2 million immediately after knowing their misdeed.
In fiscal 2017-18, LTU had unearthed Taka 1.21 billion VAT evasion.