August 4, 2021

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Lubnan paid VAT of four and a half crore rupees

From July 2017 to June 2020, Lubnan, a local clothing brand, has paid Tk 480,000 in evaded VAT, including house rent. The VAT has informed the Intelligence Department by attaching a copy of the treasury invoice by depositing the remaining amount in the government treasury on Tuesday. The company said in a press release.

The VAT Intelligence Department filed a VAT evasion case against Lubnan last week. At the hearing of the case, Lubnan pleaded guilty and promised to abide by the VAT law and paid Tk 4 crore 80 lakh 9 thousand 442. Out of this amount 3 crore 49 lakh taka is unpaid VAT. Lubnan paid the rest of the money as interest.

When asked, Director General of the VAT Intelligence Department Moinul Khan told Prothom Alo that all the evidence related to VAT in Lubnan was presented at the hearing of the case. There, Lebanese authorities said, unintentionally forgetting that they had not paid VAT on time. Under VAT law, interest is levied on arrears of VAT due to intentional or unintentional reasons. Under that rule, Lubnan was fined VAT.

Moinul Khan further said that the VAT Intelligence Department will take steps to settle the case from the lenient Lubnan.

When contacted, the director of Lebanon. Zakir Hossain told Prothom Alo, ‘We have 110 branches all over the country. Coronation time was not adjusted for various reasons. The VAT has remained unpaid. However, we have paid VAT out of respect for the government’s VAT law.

Earlier, on February 11, a team of VAT detectives raided the company’s factory and head office following a specific complaint from a customer. During the four-year sale period from July 2016 to June 2020, VAT detectives found evidence of VAT evasion of more than Tk 4.5 crore in various ways including VAT and house rent, in which case action was taken against Lubnan.