S Alam Group Faces Significant VAT Evasion Allegations
The National Board of Revenue (NBR) has identified that ten companies within the S Alam Group have allegedly evaded approximately Tk 1,400 crore in value-added tax (VAT) over the past two years.
The largest discrepancies were found in S Alam Refined Sugar Ltd, SS Power Ltd, S Alam Cold Re-Rolling Mills, and Chemon Ispat Ltd, which collectively owe around Tk 1,319 crore. The NBR has issued demand notices to these companies, urging payment of the outstanding VAT.
