Diamond World accused of VAT evasion of Tk 25,200 crore

Diamond World, a well-known jewelry vendor in the country, has allegedly evaded Tk 25,200 crore in VAT over the last 15 years. This information was revealed during an investigation by VAT intelligence. However, the investigation was reportedly covered up due to the direct intervention of influential individuals associated with the Awami League. It’s worth noting that Dilip Kumar Agarwala, who is the owner of Diamond World, is a member of the Awami League’s central sub-committee and is also accused in a recent murder case linked to a student movement against discrimination.

According to sources from the National Board of Revenue (NBR), several officials involved in the investigation were promptly transferred from the VAT Intelligence and Investigation Department. The agency’s Central Intelligence Cell (CIC) was also implicated in covering up the tax evasion investigation identified in the income tax documents of Dilip Kumar Agarwala and Diamond World.

Diamond World operates 28 showrooms across the country, where daily sales of diamonds amount to Tk 4 to 5 crore. However, despite being operational during the 15-year rule of the Awami League, the company allegedly did not pay any VAT during this period.
According to the NBR, Diamond World operates 28 showrooms across the country, including in Dhaka. It is alleged that Dilip Kumar Agarwala, the owner, did not pay any VAT during the 15 years of Awami League rule, despite the daily sale of diamonds worth Tk 4 to 5 crore from these showrooms. NBR officials claim that Dilip has evaded an annual VAT of Tk 1,620 crore from the 28 showrooms, leading to a total VAT evasion of Tk 25,200 crore in the last 15 years. When the investigation into VAT evasion and Dilip Agarwala’s income tax documents began, Dilip allegedly used his influence to hinder the process, resulting in the transfer of the officials involved. It is also alleged that Saima Wazed, daughter of former Prime Minister Sheikh Hasina, intimidated officials to prevent legal action against Dilip by sharing photos with influential figures.

A complaint was filed against Dilip Kumar Agarwala at the ACC headquarters on October 10, 2017, alleging that he amassed illegal wealth through tax evasion, gold, and diamond smuggling. The Central Intelligence Cell (CIC) of the National Board of Revenue (NBR) also initiated an investigation into Dilip Agarwala’s income tax documents and VAT evasion. However, the details of this investigation have not been disclosed for unknown reasons.

NBR sources have stated that no diamonds have been imported into the country in recent years. It will also be investigated whether Dilip Agarwal is indeed importing diamonds or selling something else under the guise of diamonds. If diamonds are being imported, it will be scrutinized whether the appropriate 150% tax has been paid.

Some salesmen of Diamond World said that six months before the 12th parliamentary election, Dilip Agarwala was fined Tk 770 crore by the National Board of Revenue. Then an influential person of the previous Awami League called and suspended the fine. After the phone call of the influential person of the previous government, all the investigations were captured in red tape.
Dilip used to take photos with Sheikh Hasina’s daughter Saima Wazed Putul and send them to ministers, bureaucrats and high officials of different government departments to intimidate them. At the same time, he ensured that no legal action was taken against him.
Dilip Kumar Agarwala was a member of the last two sub-committees of the Awami League. He took a place in the sub-committee by managing Obaidul Quader and Salman F Rahman. He was also a donor of Awami League and involved in gold smuggling. There have been allegations of various irregularities against him.

According to intelligence sources, Dilip Kumar Agarwala is roaming around openly despite being accused in a murder case during the anti-discrimination student movement. He is also accused of beating students and people by giving money to the police and administration during the quota reform movement. At the same time, a case was filed against 161 people, including Sheikh Hasina, Sheikh Rehana, Sajeeb Wazed Joy and Dilip Kumar Agarwala of Diamond World, in connection with the death of Hriday Hossain Shihab in Shibchar’s Sanyasirchar area on July 19. Around 400 to 500 unidentified people were made accused in the case. Former Shibchar municipality commissioner Shahadat Hossain Khan filed the case with Badda Police Station on August 22. Although Dilip Agarwala is an accused in the case, he is roaming around in public.
Besides, Jhenaidah-4 MP Anar was killed in a dispute over control of the gold smuggling route in the southwestern part of the country. Dilip Kumar Agarwala’s name also came out in the investigation of the sensational murder case. Despite being accused in two sensitive cases, he is still roaming around in public.