The trade fair in VAT of worth crore 7


staff reporter: Value Added Tax (VAT) of record Tk. 7 crore has been collected from Dhaka International Trade Fair. Initially VAT was less in the collection, but the VAT in the last 7 days was deposited in the government treasury at around Tk 50 lakh. The month-long trade fair ended last Saturday. Chairman of the National Board of Revenue (NBR) said. Mosharraf Hossain Bhuiyan said on Sunday that this year we have encouraged traders to observe the VAT law. Good response was found in this. At the same time strict action was taken against VAT fraud. It has been found that most of the companies have been paying regular VAT. He said, this time the Dhaka West VAT authorities collected VAT worth about Tk. 7 crore from the trade fair. Last year it was 5 crore taka. NBR chairman said, Normally VAT of 10 to 12 lakh rupees per day was collected on average up to one week before the fair ended, but on the last 7 days, 50 lakhs was collected. He said that due to the activity of the VAT department, revenue accumulation has increased. In this trade fair, the revenue earning is twice the responsibility of the other than the other year. 30 officers went to different stalls to check the sale receipt and the payment of VAT charges. If there is no complaint in the VAT payment information of any organization, then it is said to give the correct amount of revenue. Officials went to the different groups from 10am to 10pm and examined the details of payment of stolen stove VAT. It is to be noted that in the fair, Vat officials sent a case against 25 organizations against the charges of fraud and sentenced to death penalty. Although these accused companies obtained VAT from the customers but did not submit to the government treasury and did not issue VAT invoice. VAT was not applicable for all products sold at the fair. VAT at the rate of 4 to 15 percent in the product segment.


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