NBR detects Tk 3.28cr VAT evasion by electronics company

The Customs, Excise and VAT Commissionerate, Dhaka (West) has detected VAT evasion amounting to Tk 3.28 crore by Xinlian Electronics Technology Bangladesh Co Ltd, a lithium battery manufacturer in Dhamrai.

Acting on a tip-off and under the direction of the commissioner, a preventive team conducted an operation at the company’s factory at Nabagram in Dhamrai on September 17, according to a press release issued by the National Board of Revenue (NBR) here today.

The company, registered under BIN No. 007545559-0404, is registered as a manufacturer of lithium batteries.

During the operation, the team found finished batteries and raw materials and equipment for battery production. It also found imported mobile chargers, headphones of different brands and Bluetooth headphones prepared for supply.

As the team initially suspected VAT evasion, it seized the documents kept at the premises under VAT Form 12.3 for further scrutiny.

A review of the seized documents found that the company concealed sales worth Tk 14,56,18,507, resulting in VAT evasion of Tk 1,89,85,892.

The review also found that the company concealed purchases of goods and raw materials worth Tk 15,22,08,775, leading to VAT evasion of Tk 1,38,37,161.

Thus, the total VAT evasion detected from the company has stood at Tk 3,28,23,053, the release said.

The authorities will take further action in accordance with the relevant laws and regulations to recover the government dues, it added.