Grameen Bank sued on charge of Tk 67cr VAT evasion

Grameen Bank has been sued on a charge of evading Tk 67 crore value added tax (VAT), according to the VAT Audit, Intelligence and Investigation Directorate.

Moinul Khan, director general of the directorate, said on Thursday that Grameen Bank has committed two counts of irregularities. The organisation has been providing taxable (VAT) services, but did not take registration from the authorities concerned, which is an offence, Khan said.

And, the second offence is: the microcredit lender evaded VAT worth Tk 67 crore between January 2011 and December 2016.

Nazmun Nahar Kaiser, deputy director of the directorate, found the evidence of VAT evasion by examining papers of Grameen Bank.

More to follow…