Boishakhi Television, a sister concern of fraudulent Multi Level Marketing [MLM] Company, Destiny 2000 Limited is engaged in money laundering on a regular basis as well as evasion of Value Added Tax [VAT] worth millions of Taka. Weekly Blitz conducted an investigation into the matter and found worrisome information on the broad-day-light money laundering by the masterminds of the most controversial MLM enterprise by cheating the eyes of the law enforcing agencies. Foreign Exchange Control Department at the Bangladesh Bank has already started investigation into the allegation of smuggling out millions of dollars by Boishakhi Television every year. At the same time, National Board of Revenue [NBR] has launched investigating the case of evading VAT worth millions of Taka every month.
Boishakhi Television, which operates via Telstar-10 satellite pays monthly transponder rental of US$ 35,000, while it never applied Bangladesh Bank for permission for such sending of foreign currency. It is understood that the company is sending such significant amount of foreign currency every month via illegal channel, which falls under Money Laundering Act in Bangladesh. It may be mentioned here that, Money Laundering is a serious offense as per the existing law of the land.
Meanwhile, Weekly Blitz also has detected the case of evading Value Added Tax worth millions of Taka every month by Boishakhi Television. According to the existing law, the private television channels are required to pay fifteen percent of the amount of its advertisement tariff as VAT to the government. Collecting agency of such VAT is National Board of Revenue. It is learnt that on an average, Boishakhi Television receives advertisement worth TK. 1.5-2.0 million every day, where the accrued amount of Value Added Tax is TK. 225,000~300,000. The monthly amount of accrued payable VAT by Boishakhi Television is TK. 6.75~9.0 million while the annual amount stands at TK. 81~108 million. But the private television channel pays only a fraction of the accrued amount of Valued Added Tax to the government, which also is a punishable offense. National Board of Revenue has the legal right to penalize any evader of VAT with multiple digit, while as per the existing law of the land, evading government taxes is a serious offense bearing vigorous imprisonment of various terms.
Seeking anonymity, a source inside National Board of Revenue [NBR] told Weekly Blitz that the matter of evasion of VAT by Boishakhi Television Limited is one of the many items of investigation, while it [NBR] will take necessary legal actions against the masterminds of Destiny 2000 Limited, the owning company of Boishakhi Television Limited for deceiving the country from VAT worth a few hundred crore Taka.
Meanwhile, there is already legal dispute over ownership of Boishakhi Television Limited, while one of its owners have already won a legal battle against the masterminds of Destiny 2000 Limited on the issue of ownership over Boishakhi Television Limited.
Boishakhi Television, which operates via Telstar-10 satellite pays monthly transponder rental of US$ 35,000, while it never applied Bangladesh Bank for permission for such sending of foreign currency. It is understood that the company is sending such significant amount of foreign currency every month via illegal channel, which falls under Money Laundering Act in Bangladesh. It may be mentioned here that, Money Laundering is a serious offense as per the existing law of the land.
Meanwhile, Weekly Blitz also has detected the case of evading Value Added Tax worth millions of Taka every month by Boishakhi Television. According to the existing law, the private television channels are required to pay fifteen percent of the amount of its advertisement tariff as VAT to the government. Collecting agency of such VAT is National Board of Revenue. It is learnt that on an average, Boishakhi Television receives advertisement worth TK. 1.5-2.0 million every day, where the accrued amount of Value Added Tax is TK. 225,000~300,000. The monthly amount of accrued payable VAT by Boishakhi Television is TK. 6.75~9.0 million while the annual amount stands at TK. 81~108 million. But the private television channel pays only a fraction of the accrued amount of Valued Added Tax to the government, which also is a punishable offense. National Board of Revenue has the legal right to penalize any evader of VAT with multiple digit, while as per the existing law of the land, evading government taxes is a serious offense bearing vigorous imprisonment of various terms.
Seeking anonymity, a source inside National Board of Revenue [NBR] told Weekly Blitz that the matter of evasion of VAT by Boishakhi Television Limited is one of the many items of investigation, while it [NBR] will take necessary legal actions against the masterminds of Destiny 2000 Limited, the owning company of Boishakhi Television Limited for deceiving the country from VAT worth a few hundred crore Taka.
Meanwhile, there is already legal dispute over ownership of Boishakhi Television Limited, while one of its owners have already won a legal battle against the masterminds of Destiny 2000 Limited on the issue of ownership over Boishakhi Television Limited.
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