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The Value Added Tax (VAT) Audit, Intelligence and Investigation Directorate has found evidence of VAT evasion of more than Tk 36.69 crore against three companies of Swan Group.
The companies are SWAN Industries Ltd (Foam) in Gazipur’s Kaliakair, Swan Chemicals Ltd, and Swan Industries Ltd (Mattress) in the capital’s Tejgaon. They mainly manufacture and supply foam, mattress, chemicals, and other related products.
Investigations by the directorate have found evidence of concealing information on goods sales worth Tk 136 crore against the companies. Three separate cases have been filed against the organisations under the VAT law.
The directorate’s Director General Dr Moinul Khan said an anonymous person had lodged a complaint with the directorate, alleging the three companies had been evading huge amounts of VAT by providing services without invoicing.
