Bangladesh’s National Board of Revenue (NBR) says a raid at United Tobacco Industries Limited in Ishwardi, Pabna uncovered the equivalent of Tk 90 million ($738,000) in tax-evaded products. Investigators found that, despite the company’s VAT registration, it had been secretly producing and marketing cigarettes without reporting formal production activity.

Officials seized 634,590 cigarettes bearing fake banderoles — valued at more than Tk 3.8 million ($31,000) — which the NBR links to nearly Tk 2.9 million ($24,000) in evaded government revenue. They also recovered 1.03 million unused fake banderoles, which the NBR says could have enabled over Tk 85 million ($697,000) in further tax losses.

All confiscated materials are now in NBR custody. Legal action is underway, and the VAT Commissionerate will increase oversight of the company’s operations, the NBR said.

This article was adapted from an original report published on tobaccoreporter.com. All rights belong to the original publisher.