Bangladesh, Feb. 16 -- The VAT intelligence team has asked banks to provide details of private companies having yearly transaction or balance of Tk 1.0 billion or more.
The move is intended to locate "ghost" firms who evade taxes.
Manufacturing companies, banks, insurance and leasing companies are excluded from this scrutiny, however.
The VAT audit, intelligence and investigation directorate sent letters to all banks and the Bangladesh Bank in this connection on February 10.
The intelligence wing under the VAT department of the National Board of Revenue, NBR, asked the banks to provide detailed information about such firm for a period between January 1, 2014 and December 31, 2019.
The banks will have to provide the information in a pre...