June 18, 2021

Norobotsverification

Latest online bangla news | bd, world, Sports, photo, video live | Norobotsverification

VAT detectives are conducting operations outside the capital to catch the revenue evaders

The VAT Intelligence Department has launched operations in and outside the capital as per the directions of the National Board of Revenue (NBR). The operation, which began on Monday (May 25), is still ongoing. Earlier, four teams were deployed in the capital and one each in different districts for conducting operations outside the capital. A team of VAT detectives has been conducting operations in Narsingdi since Tuesday (May 25) morning.

The survey team is collecting VAT related information by visiting various shopping malls, shopping malls, factories and service establishments in and outside the capital. On the first day of the operation on Monday, more than 600 organizations were raided and more than half of the organizations were not registered, according to the relevant sources.

Since yesterday, these four teams have been surveying important markets under the four VAT Commissionerates of Dhaka (Dhaka North, South, East and West). The teams include Malekin Nasir, Assistant Director – Tokyo Square, Mohammadpur; Tanvir Ahmed, Deputy Director- Sunrise Plaza and Orchid Plaza, Dhanmondi; Munawar Mursalin, Assistant Director Navana Tower, Gulshan-1, Ananya Market-Baridhara; Mahidul Islam, Assistant Director Haji Hossain Plaza, before Rupganj Bridge.

The officers of the survey team will collect the information of the VATable organization in the prescribed form and then verify and report.

This VAT related information collection includes VAT registration number, whether the registration certificate is displayed in a visible place, nature of goods or services sold, tin, shop size and rent, number of employees and their estimated salary, average monthly electricity bill, current from July 2020. Whether VAT has been paid in 10 months till April of the year and the amount of VAT on monthly basis.

After collecting this information in the field, the report will be prepared after verification with the local VAT office and VAT online system.

Those who are not covered by VAT through the survey are being encouraged to come under the law. At the same time, registrants are being informed about the provisions of the law to deposit the correct amount of VAT in the government treasury on a regular basis. The assistance of the concerned market association is being sought while conducting the survey.

According to the VAT Act, it is mandatory for a VAT-eligible organization to conduct business with VAT registration. At the same time, at the time of sale of each product or service, there is a provision to pay the invoice to the buyer as per VAT-7.3 and to return the VAT deducted from the buyer by depositing it in the government treasury within 15 days at the end of the month. In case of deviation, VAT, fines and interest are being recovered through investigation.

VAT detectives have been working in the field at various times and are investigating any allegations and taking legal action. The concerned people hope that this activity of the VAT Intelligence Department will help in building a tax-friendly culture related to VAT in the country.

Preliminary results of yesterday’s survey:
1. Hossain Market, Staff Quarters, Demra (Dhaka East). Total 221 shops; There are 12 registrations; 209 not registered; Central registration two; Two pay VAT on Rs 5,000.

2. Haji Hossain Plaza, Staff Quarters, Demra
Demra Division. (Dhaka East). Total stores 17; There are 10 registrations; 18 not registered; One pays more than Rs 5,000 VAT per month.

3. Sunrise Plaza, Dhanmondi, Dhanmondi Division (Dhaka South)
Total 57 shops; There are 30 registrations; No registration – 26; Four pay more than Rs 5,000 per month; The remaining 28 companies pay VAT below Rs 5,000.

4. Tokyo Square, Mohammadpur Division (Dhaka West)
Total stores 240; There are 198 registrations; 42 have no registration; Two pay more than Rs 5,000 VAT per month; The remaining 40 companies pay VAT below Rs 5,000.

5. Ananya Shopping Center, Baridhara DOHS, Gulshan Division (Dhaka North)
Total stores 52; There are 31 registrations; 21 have no registration; Regular VAT pays 11; Not a single one pays VAT on Rs 5,000 per month; Registered but does not pay VAT 20.

. Navana Shopping Complex, Gulshan-1 Circle (Dhaka North)
26 organizations have been surveyed; There are 26 registrations; Both have no registration.

Sources said that action will be taken against these organizations in accordance with the VAT Act.