The VAT Audit, Intelligence and Investigation Directorate of the National Board of Revenue (NBR) has filed two separate cases against Grameen Bank for evading VAT of Tk 670 million.
Moinul Khan, director general (DG) of VAT directorate, said on Thursday that Grameen Bank has committed two types of irregularities.
As a result, a case has been filed against the bank under the VAT Act after finding evidence of VAT evasion. At the same time, another case has been filed for providing Vatable services without registering under the VAT Act. The VAT Directorate DG said that the investigation report and case related documents have been sent to Dhaka West VAT Commissionerate for taking legal action for revenue collection. At the same time, the bank authorities have been requested to monitor the payment of VAT as per the income and purchase information of each month.
According to the VAT Directorate, a team led by Nazmun Nahar Kaiser, Deputy Director, VAT Intelligence Department, conducted a raid on Section-2 of Grameen Banker Mirpur recently. The team checked and sorted all their documents from January 2011 to December 2017. During the investigation, information about this irregularity of Grameen Bank came out.
The investigation revealed that the company, which provides banking and non-banking services, has not yet received its VAT registration. According to sub-section (1) of section 15 of the Value Added Tax Act 1991, registration is mandatory for the supplier of taxable goods or the provider of taxable services.