The VAT Audit, Intelligence and Investigation Directorate (VAIID) has sued Fu Wang Bar for allegedly evading Tk 41.08 crore in value-added tax.
A field office of the National Board of Revenue, VAIID, in a statement stated that a team of VAT intelligence went through the annual audit report and treasury related documents of Fu Wang Bar and discovered proof of VAT evasion.
With a licence from the Department of Narcotics Control, Fu Wang Bowling and Services Limited sells liquor and alcoholic beverages at bars and restaurant catering services on Gulshan-Tejgaon Link Road.
The company did not disclose sales information of Tk 139 crore in 5 years since July 2015 and evaded VAT of nearly Tk 20.69 crore. The interest amounts to Tk 15.75 crore.
On top of that, the company failed to pay its previous VAT of Tk 2.38 lakh to the treasury and its interest amounts to Tk 1.36 crore.
Meanwhile, the amount of unpaid VAT against the rent of premises is Tk 43 lakh. With Tk 25.71 lakh interest, the amount is at Tk 68.82 lakh.