Raid at Lakeshore Resort on VAT evasion charges
VAT intelligence of the National Board of Revenue about Tuesday raided Lakeshore Hotel, an upscale hotel at Gulshan in Dhaka, on charges of VAT evasion.
They also seized a huge quantity of illegitimate liquor there.
VAT Audit Intelligence and Investigation Directorate of the NBR conducted the raid while the hotel authorities refrained from paying VAT in 2020, said a good directorate release.
The luxury hotel didn't submit VAT returns and paid any VAT since January 2020 violating VAT law.
Regarding to VAT and Supplementary Duty Take action-2012, a organization entity is supposed to file VAT returns inside the 15th day of each month.
The team seized some 349 bottles of liquor from the hotel bar as its authorities cannot provide legal paperwork of those.
In addition they seized sales of residential services paperwork and found proof VAT evasion after crosschecking with VAT returns the authorities had submitted in 2019.
The team led by VATAIID deputy director Nazmun Nahar Kaisar discovered that the resort authorities concealed sales information to evade VAT. It also didn't deposit the VAT collected from customers to the federal government exchequer.
The VATAIID will crosscheck the seized paperwork, including VAT returns of previous period, to determine some of the levels of evasion, the release said.
