Friday, 17 September, 2021

E-orange sued for evading Tk 1.3m VAT

E-orange sued for evading Tk 1.3m VAT

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  • Staff Correspondent
  • 27 August, 2021 12:00 AM
  • Print news

The VAT intelligence, a wing of the National Board of Revenue (NBR), has filed a case against e-commerce platform e-orange for irregularities and evading revenue of Tk 1.31 million.

Moinul Khan, Director General of the Directorate of VAT Intelligence, told the Daily Sun that VAT detectives had found the evidence of VAT evasion during a raid at the office of the company.

“A case filed against the company under the VAT Act on Thursday as the evidence of VAT evasion found. The e-orange office was thoroughly searched during the raid,” he said.

According to VAT intelligence, the company purchased products and services worth Tk 2.46 billion and made sales worth around Tk 2.50 billion in a specified period.

E-orange earned a commission of Tk 38.79 million from the sales. The company was supposed to pay 5 per cent of the commission in VAT, which is Tk 1. 9 million. But they only paid Tk 6.23 lakh.

The investigation revealed that the e-commerce platform had evaded VAT of Tk 1.31 million by concealing the actual sales information.

The drive was carried out on 8 June led by VAT Intelligence Division Deputy Director Tanvir Ahmed following allegations that the company was embezzling huge amounts of government revenue.