Investigation reveals Danish Foods dodged Tk 34.6m in VAT: official
Published : Sunday, 28 November, 2021 at 9:24 AM Count : 604
An investigation has revealed that Danish Foods Limited, owned by Partex Star Group, has evaded Tk 34.6 million in Value Added Tax, according to the director general of VAT Audit, Intelligence and Investigation Directorate.
The directorate has started a case against Danish Foods after the investigation found the company had not declared revised prices after a 7.5 percent increase, leading to Tk 37 million in dues. But it had not paid nearly 26 million of the sum.
The company enjoyed extra rebate on increased prices of its products, such as advertisements, paper for tea bags and boxes, gas and cartons, from July 2017 to June 2018, reports bdnews24.com.
Through extra rebate, the company has evaded more than Tk 6.4 million, said Moinul Khan, director general of the VAT intelligence directorate.
The investigation, led by Alamgir Hussein, an assistant director of VAT intelligence, also found that Danish Foods had paid more than Tk 1.2 million in VAT at source in this period, but it was supposed to pay Tk 3.1 million. It also needs to pay 2 percent interest on the dodged VAT, totalling over Tk 2.3 million.
Danish Foods finally paid around Tk 24.5 million of the total dues on its own. The case has been forwarded to Dhaka East VAT Commissionerate to collect the rest of the money and take legal action.