Bangladesh, Sept. 17 -- The VAT intelligence authorities have unearthed an estimated Tk 725 million worth of revenue evasion by a tobacco company in Gazipur through the alleged illegal production and marketing of cigarettes using used and fake banderoles.

Advertisement A preventive team of the Directorate of Audit, Intelligence and Investigation, VAT, Dhaka conducted a surprise raid on Virgo Tobacco Ltd at Kaultia in Gazipur on September 2 following a tip-off, according to a press release issued on Wednesday.

Two teams simultaneously raided the cigarette factory and an adjoining warehouse. The teams found the factory gate locked from outside while its production was reportedly going on inside.

After repeated requests to open the gate ...