National Board of Revenue (NBR) has found Tk3.20 crore in VAT evasion by online shopping platform Korean Mart Bangladesh, following an inspection and examination of its business records.
Officials of the Customs, Excise and VAT Commissionerate, Dhaka (West), conducted a preventive operation at the establishment on Sept 21 based on secret information, according to an NBR press release issued on Wednesday.
The operation was conducted under the direction of the commissioner of the Dhaka (West) commissionerate and supervision of Pallabi Divisional Office.
Korean Mart Bangladesh sells cosmetics and other products through online platforms.
During the operation, officials examined information stored on the company’s laptops and computers, its courier service records, proprietary software and other documents. The examination indicated possible VAT evasion.
The officials subsequently issued Mushak-12.3 and seized copies of data from the laptops, computers and other relevant documents by storing the information on a pen drive for further verification.
After examining the seized records, the VAT authorities found irregular sales transactions worth Tk46.74 crore.
The records showed that the company had failed to pay Tk3,19,57,490 in VAT against the sales, according to the NBR.
The authorities are taking steps to file a case against the company over the alleged VAT evasion.