Tuesday 14 July 2020 ,
Latest News
Jamuna Group Chairman Nurul Islam Babul dies in hospital | Bangladesh reports 3,099 new Covid-19 cases, 39 deaths | JKG Healthcare chairman Dr Sabrina put on 3-day remand | Govt to employ 1200 teams to check sacrificial animals’ health | Dhaka eateries defy health guidelines despite virus risk | CMP deputy commissioner dies of Covid-19 | Buriganga launch capsize: Launch master of Mayur-2 held | 180 colleges, universities join lawsuit opposing new US visa policy | Coronavirus Hotline Numbers: 01944333222, 16263, 333; website: www.corona.gov.bd |
3 August, 2018 00:00 00 AM

Print

BTRC finds evasion of Tk 11,530cr by GP

Tareque moretaza
BTRC finds evasion of Tk 11,530cr by GP

Bangladesh Telecommunication Regulatory Commission (BTRC) in its latest audit has traced financial discrepancies worth Tk 11,530 crore in Grameenphone (GP) balance sheet ranging between 1996 and 2017. The telecom regulator commissioned a third-party firm to conduct an information system audit of the GP records for the said period. In the 215th meeting of the BTRC held at its headquarters in the capital on July 19, the regulator was formally made aware of the evasions of the large sum in VAT and taxes by the largest telecom operator in the country.

When approached for comments,  Grameenphone sent an e-mail communiqué saying, “As a general principle, we do not comment on rumors and speculations. The System Audit by a BTRC appointed auditor is a long pending issue, and we expect that there would be dialogue with the operators before arriving at a conclusion.”

We can only comment further on conclusion of any further discussions, added the e-mail. During a first set of audit conducted earlier in 2011, financial discrepancies worth Tk 3,034 crore by the GP were also identified. GP, instead of paying the amount to the state coffers, went to the court claiming that the audit conducted on their records was not of international standard.

The BTRC, taking the GP complaint in consideration, later made it mandatory to engage a foreign partner in the auditing process.

During a second phase of the GP audit, the BTRC appointed audit firm Toha Khan Zaman & Co. as the lead auditor on October 6, 2015, while India’s CNK &

Associates LLP was brought in as the associate auditor. They started proceedings on October 20 the same year. However, the audit process was delayed due to GP’s non-cooperation.

According to the BTRC documents, Toha Khan Zaman & Co. informed the telecom regulator through a letter that it was able to on-spot auditing at GP from July 19 the next year. The firm finally submitted its report to the BTRC on May 3 this year.

According to the report prepared by the two audit firms, the GP dues to the government stands at Tk 11,530.15 crore out of which the BTRC will get Tk 7,444.21 crore in taxes and the rest— Tk 4,085.94 crore—will go to the National Board of Revenue (NBR) in VAT.

The minutes of the 215th meeting, a copy of which is with the Independent, say the commission has accepted the audit report.

According to the meeting minutes, signed by the BTRC Secretary Md Jahirul Islam on July 23, the telecom regulator has decided to send GP a letter through its Legal and Licensing Division, asking the telco to pay the dues to the commission. The commission also plans to send a letter to the NBR chairman, informing him about the GP dues to the revenue board.

It was also decided that the minutes be sent to all the BTRC commissioners and director generals informing them about the decisions taken in the meeting.

However, none of the BTRC officials agreed to speak on record on the audit report conducted on GP.

One senior official of the regulator, preferring anonymity, told The Independent on Monday that the audit was conducted engaging an international firm and the whole process was completed in line with the telecom operator’s prescribed format.

The audit report was finalised after four sets of revision, said the official, adding “Whether you consider it as a large tax evasion or large financial discrepancy, it will remain as an exemplary regulatory work.”

When asked whether the commission will be able to realise the amount from the GP, the official quipped, “You will know that once we issue the demand note.” GP ownership structure

GP is a joint venture between Telenor (55.8%), the largest telecommunications service provider in Norway having mobile phone operations in 12 other countries, and Grameen Telecom Corporation (34.2%), a non-profit organisation of Bangladesh. The other 10 per cent shares belong to retail and institutional investors.

 

Comments

Poll
Today's Question »
State minister for power Nasrul Hamid yesterday said everyone to have access to electricity by June. Do you think the feat achievable by the timeframe?
 Yes
 No
 No Comment
Yes 47.3%
No 48.7%
No Comment 4.1%
Most Viewed
E-Paper

Copyright © All right reserved.

Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Disclaimer & Privacy Policy
....................................................
About Us
....................................................
Contact Us
....................................................
Advertisement
....................................................
Subscription

Powered by : Frog Hosting