Economy Desk: The National Board of Revenue (NBR) has directed to suspend the import-export and freeze the bank account of Abdul Monem, the country’s leading industrial group, for tax evasion of Tk 674 crore.
Allegation against the company is that they have not paid Tk 674 crore 35 lakh tax evasion by misusing the bond facility.
Dhaka Customs Bond Commissionerate (South) gave this order in an office order on Tuesday. A source at the commissionerate confirmed the matter on Wednesday (April 24).
In the order, all the sea, land and airports of the country have been ordered to stop the import-export activities of all the companies owned by the company and also to suspend all business identification numbers or BINs. Bond Commissionerate Deputy Commissioner Dwaipayan Chakma signed the order on behalf of the commissioner.
It is said that by virtue of the powers given in Article 202 of the Customs Act, 1969, all other accounts, including the current account of the said institution, are requested to be made non-operable.
It is said in that office order that the company evaded tax of Tk 1,205 crore by illegally removing 5 lakh 25 thousand tons of raw sugar from the factory without paying duty. When instructions were given to pay these amounts in six installments, the company paid Tk 533 crore. However, the remaining Tk 674 crore 35 lakh has not been deposited till now.
By suspending the BIN, the import-export operations of the company have been stopped. As a result, the customs duties of the company’s products which have already been imported at the port will also be stopped. Similarly, freezing the bank accounts of the group’s institutions as well as all the institutions owned and managed by it means that the institution will not be able to withdraw any money or transact from these accounts.
According to section 202 (1), b of the Customs Act, 1969, the release of the goods of the company or its subsidiary company or the company under the same ownership or management is suspended until the government dues are collected, according to the order letter with instructions to the Export Development Bureau and related banks. will be
Besides, the related bond officials have been ordered to stop the marketing and supply of all types of raw sugar brought to the bond facility by sugar refineries.
It has been reported that M/s Abdul Monem Sugar Refinery Limited company brought sugar in bonded facility and sold it in the open market illegally, which is misuse of bonded facility. In the first phase, the company under the Dhaka South Bond Commissionerate illegally removed 3 lakh 29 thousand 919 tons of sugar from the warehouse, the evidence of which was obtained by the Bond Commissionerate.
Initially, a case was filed. According to the verdict, the amount due to the company is Tk 612 crore 23 lakh 17 thousand 444 including fine.
Then in the second phase, the company illegally removed another 1 lakh 94 thousand 830 tons of sugar. Bond Commissionerate filed a case against the company in this incident as well. According to the judgment of this case, the amount of revenue due from the company including fine is 482 crore 46 lakh 42 thousand 898 taka.
The Dhaka South Bond Commissionerate ordered the company to pay Tk 1,940 crore with fines and duties due to irregularities in two steps, which exceeded Tk 1,200 crore with interest.
After the issuance of this order, the company was also given the opportunity to pay through e-payment in 6 installments, but the company has paid Tk 533 crore but is delaying to pay the remaining Tk 674 crore. Because of this, it is said that the company’s bank account has been seized and the initiative to stop the import-export activities has been taken.
