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Raid at Lakeshore Hotel on VAT evasion charges

Published : Tuesday, 17 November, 2020 at 10:09 PM  Count : 523

Raid at Lakeshore Hotel on VAT evasion charges

Raid at Lakeshore Hotel on VAT evasion charges


VAT intelligence of the National Board of Revenue on Tuesday raided Lakeshore Hotel, an upscale hotel at Gulshan in Dhaka, on charges of VAT evasion.

They also seized a huge quantity of illegal liquor there.
VAT Audit Intelligence and Investigation Directorate of the NBR conducted the raid as the hotel authorities refrained from paying VAT in 2020, said a directorate release.

The luxury hotel did not submit VAT returns and paid any VAT since January 2020 violating VAT law.

According to VAT and Supplementary Duty Act-2012, a business entity is supposed to file VAT returns within the 15th day of each month.

The team seized some 349 bottles of liquor from the hotel bar as its authorities could not provide legal documents of those.

They also seized sales of residential services documents and found evidence of VAT evasion after crosschecking with VAT returns the authorities had submitted in 2019.

The team led by VATAIID deputy director Nazmun Nahar Kaisar found that the hotel authorities concealed sales information to evade VAT. It also did not deposit the VAT collected from customers to the government exchequer.

The VATAIID will crosscheck the seized documents, including VAT returns of previous period, to determine the actual amounts of evasion, the release said.

SZA

Related Topics

Lakeshore Hotel   VAT evasion  








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