The VAT Audit, Intelligence and Investigation Directorate of the National Board of Revenue (NBR) has found secret sale details worth Tk2.40 crore in two months in Dhaka Regency Hotel.
Following the investigation, the VAT intelligence has filed a case against Dhaka Regency, located in Khilkhet of the capital, for dodging VAT worth Tk58 lakh.
Regarding the VAT dodge, the concerned VAT Commissionerate was also asked to intensify monitoring of the organization.
Moinul Khan, director-general of the VAT Audit, Intelligence and Investigation Directorate, NBR said: “A team led by Othello Chowdhury, deputy director of VAT Intelligence, conducted a raid on the Dhaka Regency on December 28, 2021, in the wake of specific allegations of VAT evasion. VAT detectives found evidence of massive VAT evasion there.”
“Following the investigation, the VAT intelligence has filed a case against the hotel for evading VAT worth Tk57.92 lakh. A report has been submitted to the Dhaka North VAT Commissionerate to take further legal action to recover that money,” he added.
Despite repeated attempts, this correspondent could not get any comments from Dhaka Regency management.
According to the VAT Audit, Intelligence and Investigation Directorate, the detectives asked the hotel authorities to show the VAT and other commercial documents and Director (finance) Md Mizanur Rahman Siddique presented those. Sale invoices, computers and sale registers were also confiscated. They found proof of VAT evasion there.
The documents revealed a total sale of Tk5.06 crore in December 2018. But the company showed sales worth Tk4.59 crore and concealed information on Tk47.44 lakh. That means they avoided payment of Tk7.11 lakh in VAT in the process.
A 2% interest as a late payment fine of Tk5.12 lakh adds to the sum.
The investigation also found that the company showed sales of Tk3.80 crore in July 2019 when the actual sale was Tk5.73 crore and concealed transactions of Tk1.92 crore, dodging payment of VAT to the tune of Tk28.9 lakh in the process.
The interest on the sum under the VAT law amounts to Tk16.76 lakh.
Within just these two months, including VAT evasion and its interest, this luxury hotel dodged Tk57.91 lakh, the directorate said.
The case was sent to the Dhaka North VAT Commissionerate for them to take further steps against the hotel.
