NBR suspends imports and exports of Abdul Monem Group for tax evasion

The National Board of Revenue (NBR) has taken decisive action against Abdul Monem Group and its affiliated entities, including Abdul Monem Sugar Refinery, suspending all import and export activities. This suspension comes in response to alleged misuse of bond facilities and failure to pay applicable duty and fines totaling Tk 674.35 crore.

In an order dated April 23, the NBR directed three banks – Dutch-Bangla Bank, Bank Asia, and Jumuna Bank – to freeze the accounts of the company and its associates and report to the Dhaka (South) Customs Bond Commissionerate.

Additionally, the NBR instructed all sea ports, land ports, and airports in the country to halt all import and export operations associated with the Business Identification Numbers (BIN) assigned to the group. Furthermore, customs clearance for products imported through these ports will be withheld.

Bond Commissionerate Deputy Commissioner Dwaipayan Chakma, in a letter, instructed relevant bond officers not to release any raw materials to Abdul Monem Sugar Refinery. The refinery is accused of unlawfully removing 525,000 tonnes of raw sugar from their bonded warehouse, resulting in unpaid customs duties amounting to Tk 1205.52 crore. Despite directives to pay in installments, the company only paid Tk 533 crore, leaving Tk 674.35 crore outstanding.

ASM Mainuddin Monem, the managing director of the company, did not respond to requests for comment.

According to the NBR, Abdul Monem Sugar Refinery Limited imported and distributed raw sugar under bond, evading customs duty and VAT, leading to significant losses for the government.

An anonymous bond official revealed that the company was fined Tk 15 crore after a thorough investigation uncovered duty evasion totaling Tk 1190.52 crore. Despite repeated notices, the company has failed to settle the outstanding amount.

Customs officials across several locations, including Chattogram, Mongla, Dhaka, and Kamalapur ICD Custom Houses, confirmed that they have suspended the release of hundreds of consignments belonging to six companies under the Abdul Monem Group. This includes shipments of raw sugar and various food products.

Mohammad Fyzur Rahman, Commissioner of Chattogram Custom House, and Kamalapur ICD Customs Commissioner Akbar Hossain confirmed that they have instructed officials to enforce the suspension order.