The VAT audit detective and investigation department has filed a case against an advertising agency called Meloneds for evading VAT worth around Tk 5 crore. This information was given by the VAT Intelligence Department on Tuesday (June 29).
In this context, the director general said. Moinul Khan said the VAT Intelligence Department had uncovered a VAT evasion of around Tk 4.92 crore by conducting an investigation against an advertising agency called Meloneds. A case has been filed against the company under the VAT Act today as evidence of VAT evasion was found.
According to the VAT detective, the assistant director of the VAT detective in the Gulshan office of the advertising agency Meloneds. A team led by Mahidul Islam investigated the organization’s activities from 2014 to 2017. The investigation report is prepared by verifying the background of the annual audit report submitted by the organization, the submission letter (VAT-19) and the data obtained from the copy of the treasury invoice and other documents submitted by the organization at different times.
According to the report, the company has paid VAT of only Tk 698 on VAT at source (during the investigation period) against various service sectors. But the amount of VAT payable by the company was 6 lakh 45 thousand 45 rupees. In this case, there is evidence that the organization has concealed the actual information.
According to the report, during the investigation period, the company has paid VAT of Tk 30 lakh 7 thousand 726 on the sale of various services. But the investigation revealed that the amount of VAT applicable on the sale of the company was 3 crore 57 lakh 55 thousand 720 rupees. In this case, the company has evaded VAT by hiding the real information. In this, 3 crore 26 lakh 8 thousand 93 taka fraud has been revealed for unpaid VAT.
Besides, the company has not paid any VAT against the rent of space and installation during the said period. There, a fraud of Tk 2 lakh 64 thousand was uncovered due to unpaid VAT of the company. In all, the amount of unpaid VAT is 3 crore 36 lakh 6 thousand 441 taka and 1 crore 55 lakh 16 thousand 18 taka for interest at the rate of 2 percent, a total of 4 crore 91 lakh 94 thousand 628 taka of VAT evasion information was revealed.
On the other hand, the company has not paid any VAT against the rent of premises and installations during the said period. But the amount of VAT payable by the company was Rs. 2,64,000. In this case, a fraud of Rs 2,64,000 was uncovered for the unpaid VAT of the company. According to the VAT Act, interest of Rs. During the period mentioned, the company disclosed the total amount of unpaid VAT of Rs. 3,36,7,441 and the amount of Rs.
During the investigation, the organization was given more than enough time and opportunity to defend itself more than once. The investigation report has been finalized taking into account their statements. The investigation report will be sent to the Dhaka North VAT Commissioner for taking legal action to recover the evaded VAT revealed in the investigation.