exporters and importers of the country are dodging tax by declaring false
statement regarding their goods and commodities in Chattogram and other ports.
This siphoning is depriving the government exchequer of huge amount of
revenue each year.
syndicate with the nexus of some unscrupulous customs officials, port staff and
C&F agent men are committing tax evasion crime acts, NBR sources said.
various steps, the customs authority concerned still remains in dark to estimate
the amount of dodging tax, they added. In this backdrop, many unscrupulous
businessmen also imported high duty based goods through false declaration of
low-imposed duty goods via different ports of the country
The customs authority concerned still remains in dark to estimate the
amount of dodging tax
declared his imported goods as gypsum for 60 per cent duty, but it was 150 per
cent valued goods tiles that a common cheating formula for tax evasion. Later,
a case was filed against M/S N Islam enterprise on charge of tax evasion,” he
imports means either imports without due tariffs (smuggling) or the goods have
not been imported at all but the foreign currency has been transferred (money
laundering), according to the report.
Around 80 percent trade-based money laundering in the country occurred
through under-invoicing and over-invoicing
report of Bangladesh Institute of Bank Management, claimed that around 80
percent trade-based money laundering in the country occurred through
under-invoicing and over-invoicing.”
NBR Chairman Abu
Hena Md Rahmatul Muneem, said “All audit reports have been brought under a
single database to stop tax evasion by submitting fake financial reports.”
Verification System, to store the company audited report
The National Board
of Revenue (NBR) and the Institute of Chartered Accountants of Bangladesh
(ICAB) have jointly developed a software named Document Verification System,
DVS in short, to store the company audited report, said the NBR chairman.
Chattogram Port Authority’s Secretary Md Umar Faruq said that they are in dark
about the estimated amount of dodging tax in the port.
The duty-hike on goods and commodities accelerated the tax evasion
Agent Association President Mafizur Rahman said that some businessmen have
tendency to evade tax through false declaration. Benapole Export-Import
Association Senior Vice-President Aminul Haq claimed that the duty-hike on
goods and commodities accelerated the tax evasion tendency among the traders.