Customs Intelligence unearths tax dodging by export-oriented company
Fujian Export Industries Limited imported around 48 lakh cigarettes as polyester PET strapping
Fujian Export Industries Limited, a cent percent export oriented company at the Ishwardi Export Processing Zone in Pabna, has imported cigarettes in the name of polyester PET strapping to dodge taxes.
As per the import declaration, the company was scheduled to import the polyester product using a bond facility but it imported the fake products, which the Customs Intelligence and Investigation Directorate (CIID) unveiled.
According to sources, when the CIID authorities carried out a physical check of the imported container at the Chattogram Customs House on Wednesday, they found that the company imported 48.28 lakh cigarettes, priced at about Tk5 crore.
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The customs authority is now preparing to file a case against the importer of this fake product.
However, Kazi ANM Shamsul Alam, a director of Fujian Export Industries Limited told The Business Standard that their company has no permission to import polyester PET strapping.
"I do not know how this mistake happened," he added.
