KAI Bangladesh Aluminum evades Tk8.64cr VAT

The VAT Audit, Intelligence and Investigation Directorate has found evidence of VAT evasion of more than Tk 8.64 crore against Kai Bangladesh Aluminum.

A case has been filed against the aluminum product manufacturer in this connection.

The directorate’s Director General Dr Moinul Khan said the VAT evasion had been uncovered during an investigation.

A team led by the directorate’s Assistant Director Mahidul Islam had investigated the company’s activities from July 2013 to June 2017, said a press release on Wednesday.

It said the investigation report was prepared by verifying the company’s annual audit report.

The investigation report said the company had evaded VAT of Tk 5.68 crore in four years and illegally accepted VAT exemptions of Tk 25.08 lakh as well as interest of Tk 2.7 crore.