Tax evasion by garment manufacturer comes to light

by Apparel Resources News-Desk

12-July-2019  |  2 mins read

Chittagong Custom House
Image Courtesy: commons.wikimedia.org

A Bangladeshi apparel manufacturing company, namely Wasif Knit Composite Limited, has reportedly evaded Taka 57 lakh tax by producing forged bank statements while getting its cargo released from the Chittagong Port, underlined a recent media report.

The company allegedly did so in connivance with the customs officials.

As per the report, customs documents show that the company imported 24 tonnes of polyester fabric, which is duty-free, from China at the beginning of last year.

However, tipped off on probable anomalies, authorities in August last year examined the cargo and found 27 tonnes of curtain and chenille fabrics that are not duty-free.

But as the importer did not appear within the deadline during the probe, the cargo became legally fit for auction. Subsequently, Wasif Knit Composite reportedly submitted an application to take the goods after paying some demurrages.

However, the auction officials reportedly ignored the taxable goods and issued in November a no-objection certificate for the release of the cargo and by the end of last year, the importer reportedly received the goods after paying Taka 2,906 in tax and an additional Taka 2.16 lakh in demurrages.

The amount paid by the importer is allegedly about 0.05 per cent of what it was supposed to pay in duty.

“I don’t know about it since it has taken place much before I joined the Chittagong Customs,” reportedly maintained Customs Commissioner M. Fakhrul Alam when asked about the incident, adding that a probe body will now be formed to find whether the allegation is true and, identify the officials behind it.

“Actions will be taken if anybody is found to be guilty,” claimed Fakhrul Alam.

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