Five Enterprises in Ishwardi EPZ Evade VAT of BDT 41 Crore

Five industrial enterprises in the Ishwardi Export Processing Zone (EPZ) in Pabna have evaded Value Added Tax (VAT) amounting to approximately BDT 41 crore. Among them, Elegant Spinning Mills alone evaded nearly BDT 32 crore in VAT. Brothers Plastic failed to deposit over BDT 4 crore into the state treasury. Additionally, the evaded VAT amounts stand at approximately BDT 3.69 crore for Rahimafrooz Globet, BDT 82 lakh for Gold Shine Industries, and BDT 27 lakh for Spectra Dye-Com. These findings emerged from an audit conducted by the Rajshahi VAT Commissionerate.

According to the information, the total revenue evasion raised against the five enterprises stands at BDT 40.94 crore. Furthermore, audit activities for one more enterprise are currently underway. The audit revealed the largest amount of revenue evasion against Elegant Spinning Mills. Records show that the company evaded revenue amounting to BDT 31,76,24,848. Brothers Plastic Industries evaded revenue totalling BDT 4,38,39,715. The audit covering the period from January 1 to December 31, 2025, and the audit report were approved on August 16, 2026.

The audit uncovered revenue evasion of BDT 3,69,69,885 against Rahimafrooz. Additionally, the evaded VAT amounts are approximately BDT 82,38,000 for Gold Shine Industries and BDT 27,72,000 for Spectra Dye-Com. Since the audit activities for Famous Plus Industry Inc. are still ongoing, no specific VAT evasion data was found. It is known that 22 other enterprises in the Ishwardi EPZ did not provide any cooperation from their end during the audit process.

Speaking on condition of anonymity, a senior official of the National Board of Revenue (NBR) said that for export-oriented industrial enterprises, it is crucial to verify whether there is consistency among bond facilities, duty-free imports, input utilisation, production, export records, and VAT-related documents in accordance with relevant laws and the scope of the audit. If VAT evasion is proven, measures will be taken to recover the VAT along with penalties in accordance with the law.