.webp)
The Value Added Tax (VAT) Intelligence Directorate has filed a case against Nahid Enterprise for evading VAT worth Tk 275.32 crore by buying and selling goods misusing the bond facilities.
The VAT Audit, Intelligence and Investigation Directorate in a press release on Monday said a case of VAT evasion of more than Tk 275 crore was filed against Nahid Enterprise of Lalbagh in the capital for its involvement in buying and selling goods through misuse of bond facility and involvement in money laundering.
The directorate also requested the Customs Intelligence and Investigation Directorate to take necessary steps to properly investigate the offences of Nahid Enterprise under the Customs Act and take necessary legal action.
The directorate also requested the Central Intelligence Cell of NBR to further investigate and take action on the allegation of income tax evasion along with the VAT evasion found in the investigation of VAT detectives, the release added.
The Dhaka Bond Commissioner was also requested to take effective measures to prevent misuse of the bond facility by the firm.
According to the VAT intelligence, Nahid Enterprise, owned by one Anwar Hossain, is located at Bakshi Bazar in capital’s Lalbagh (BIN number is 000361092-0204).
The VAT intelligence office launched an investigation on information that the company was evading VAT. Later, letters were sent to the company several times asking for its VAT documents for the period July 2015 to June 2020.
The company did not send the documents and wasted more time.
The directorate then raided Nahid Enterprise’s office on June 17 and seized commercial documents related to VAT.
Examining all those documents, the directorate found Nahid Enterprise was involved in buying and selling goods through misuse of the bond facility from other bonded institutions. Evidence of money laundering related to smuggling and tax evasion was also found.
Between July 2017 and May 2021, the company has shown they sold products worth Tk 291.69 crore but the seized documents showed that the actual sales volume was at Tk 1,540.26 crore.
