The Large Taxpayer Unit (LTU), Value Added Tax (VAT), under the National Board of Revenue (NBR) has denied a BSS report on tax evasion by British American Tobacco Bangladesh (BATB).
The report published in the BSS on May 9 under the headline said, “BATB evaded Tk 1,863 crore VAT. “
The report of the state-owned news agency claimed that the multinational cigarette giant evaded Tk 1,863 crore supplementary duty (SD) and VAT by declaring lower sales prices of low-grade cigarettes in eight months (from June 1, 2017 to February 2018).
The LTU denied the report issuing a rejoinder on May 10.
Signed by the LTU Commissioner Md Matiur Rahman, the rejoinder said the report of VAT evasion by BATB was not correct as the budgetary measures on tobacco taxation (SD and VAT) is yet to be implemented.
The LTU could not take any step to realize arrear SD and VAT from the tobacco companies due to legal complexities on the issue.
In this context, the BSS report on VAT evasion by BATB is not ‘correct’.
The report published in the BSS on May 9 under the headline said, “BATB evaded Tk 1,863 crore VAT. “
The report of the state-owned news agency claimed that the multinational cigarette giant evaded Tk 1,863 crore supplementary duty (SD) and VAT by declaring lower sales prices of low-grade cigarettes in eight months (from June 1, 2017 to February 2018).
The LTU denied the report issuing a rejoinder on May 10.
Signed by the LTU Commissioner Md Matiur Rahman, the rejoinder said the report of VAT evasion by BATB was not correct as the budgetary measures on tobacco taxation (SD and VAT) is yet to be implemented.
The LTU could not take any step to realize arrear SD and VAT from the tobacco companies due to legal complexities on the issue.
In this context, the BSS report on VAT evasion by BATB is not ‘correct’.
