Meghna Petroleum evades duty worth Tk 25cr

Staff Reporter :
Meghna Petroleum Limited has evaded duties worth Tk 25 crore by hiding the real price, according to an investigation report of the National Board of Revenue (NBR).

The state-owned petroleum product marketing company evaded the mentioned revenues through 31 bills of entre (B/E) between the year of 2020 and 2022, the report, prepared by Chattagram Customs House, said.

The report said that the importer Meghna Petroleum took customs clearance of imported furnace oil from June 11, 2020 to May 18, 2022 by under invoicing through internal accounting audit (PCA), which has recorded in ASYCUDA World System.

For an example, as per a letter of credit (LC) (Bill of Entry No-734015, LC No-9322010220), which was released from the port on April 21, 2022, the price of furnace oil was $668 per tonne, but the importer had showed value $ 419.33 during the B/E submission.