The National Board of Revenue (NBR) has uncovered an estimated Tk 2 crore in VAT evasion by Alpha e Shop, an online-based retailer of branded fans, decorative lighting, chandeliers, electronics, interior décor items, air conditioners and televisions, following raids on two of its showrooms in the capital.

According to a press release issued by the NBR on Wednesday, the Directorate of Audit, Intelligence and Investigation, VAT, Dhaka had been monitoring a rise in VAT evasion by online platforms through field-level surveys conducted by its research team.

Several online businesses were subsequently brought under scrutiny, with Alpha e Shop among those flagged.

Two preventive teams from the directorate raided the company's showrooms in Banani and Mirpur-12 on Monday.

The firm imports and locally procures a range of high-end home furnishing and electronics products and also runs its own interior design team, handling complete office and residential interior projects.

The NBR said Alpha e Shop markets its products through Facebook and other social media platforms, engaging influencers for promotional campaigns in a manner similar to clothing brands.

During the simultaneous raids, officials seized commercial documents relating to the company's purchases and sales.

A review of the records showed the company sells through multiple channels, including corporate sales, showroom sales, its Banani online showroom, phone and WhatsApp-based orders, online dealer sales and its website, in addition to direct sales from its two physical outlets.

Preliminary examination of the seized documents revealed evasion of approximately Tk 2 crore in revenue, the NBR said, adding that the company had verbally agreed to pay the evaded amount. Further review of the documents is under way, and legal proceedings are being pursued in line with existing regulations, the revenue board said.