Meghna petroleum faces Tk 1,362 Cr Tax arrears

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Meghna petroleum faces Tk 1,362 Cr Tax arrears

Meghna Petroleum Limited, a subsidiary of Bangladesh Petroleum Corporation (BPC), is reportedly delaying payment of over Tk 1,362 crore in outstanding customs and tax dues, despite earning substantial profits over the years.

According to customs sources, the company has failed to settle duties and taxes related to 463 bills of entry from the 2017–18 period. Although the original demand stood at Tk 1,562.49 crore, around Tk 200 crore has been paid, leaving Tk 1,362 crore outstanding.

Despite repeated reminders from Chattogram Customs House, the company has not cleared the dues. Officials said import-related duties, VAT, advance tax, and income tax are required to be paid at the import stage, but Meghna Petroleum did not comply fully.

Customs authorities have already issued final demand notices and directed the company to deposit the outstanding amount within the stipulated time under relevant customs laws. Failure to do so will lead to further legal action.

Documents show that Meghna Petroleum, along with other BPC subsidiaries, has also faced allegations of irregular tax compliance on imported goods.

Despite the large outstanding dues, the company has continued to report strong profitability. Over the past five fiscal years, it earned about Tk 2,248 crore in net profit, averaging around Tk 450 crore annually. For FY 2024–25 alone, it reported a net profit of Tk 664.32 crore. Customs officials have warned of stricter measures if the dues are not settled soon.

 

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