National Board of Revenue (NBR) has asked local companies to stop doing business with Chinese company ZTE for tax evasion. Recently, the NBR has given an order to the local companies in this regard.
According to the NBR's observation, more and more foreign companies have been involved in numerous projects in Bangladesh in recent times. For that, it has become necessary to pay legitimate taxes to the institutions.
Recently, National Board of Revenue's Investigation Center (CIC) conducted an investigation against ZTE in China. Relevant local organizations like Power grid Company Bangladesh Limited, Bangladesh Computer Council, Teletalk Bangladesh Limited, Robi Telecom, Bangladesh Telecommunications Company Limited were informed about this in writing. The NBR has since called on these local companies to stop doing business with ZTE.
According to statistics, in the last few years, the company has participated in 400-500 million US dollars cost ICT infrastructure projects. According to the investigation, most of these projects have been signed and completed by various entities in China. The result has been huge tax evasion and the risk of their PE (permanent establishment) issue being created. Therefore, the NBR has asked to cooperate with all the organizations in the country by shutting down their businesses for ZTE's tax evasion.