904, out of 1 1,024 shops, in eight markets don't pay VAT
As many as 904, out of 1 1,024 retailers at eight market segments in Dhaka, Narayanganj and Savar usually do not pay value added tax (VAT), said the VAT Audit, Intelligence and Investigation Directorate immediately after conducting a survey.
In line with the Directorate, 88 per cent of the retailers don't pay VAT.
Three clubs of the the VAT Audit, Cleverness and Investigation Directorate have found the info conducting surveys, said Dr Moinul Khan, director general of the VAT Audit, Cleverness and Investigation Directorate.
He said the VAT Audit, Cleverness and Investigation Directorate's deputy director Tanvir Ahmed led the survey in Narayanganj, associate director Munawar Mursalin found in Dhaka, and assistant director Nasir Akanda found in Savar. Forty-two VAT cleverness officials took part in the surveys in three groups.
The eight markets where surveys completed are Tag Tower, Samabaya New Industry, Sayem Plaza and Al Hakim (Popular) Centre in Narayanganj, City Center in Savar, Tropical Alauddin Tower and RK Looking Complex at Uttara and Suvastu Nazar Valley at Badda in Dhaka.
During the surveys, a complete of just one 1,024 shops were found open. Of those, 120 had VAT registration, while 904 don't fork out VAT.
Based on the surveys, simply 45, out of 120 VAT registered retailers, pay a lot more than Tk 5,000 VAT per month, while the rest 75 outlets pay significantly less than Tk 5,000 VAT although VAT quantities they pay were identified inconsistent with the rents, salaries of employees, energy and other bills, and profits.
In some cases, Moinul Khan said virtually all the shops realise VAT from customers, nonetheless they don't deposit the VAT to the government's exchequer correctly.
Through the field-level surveys, it had been also discovered that several markets had been built more than 10 years ago. Various businesses at those market segments also started as well. The new VAT guidelines were implemented two years ago. But, almost 88 per cent of the outlets have not come beneath the jurisdiction of VAT in this long period.
However, 500 outlets at Suvastu Nazar Valley were brought less than mandatory registration simply by the Dhaka North Commissionerate along Thursday.
