GP hasn’t set aside funds against govt’s audit claim: auditor | The Daily Star
12:00 AM, February 02, 2021 / LAST MODIFIED: 04:06 AM, February 02, 2021

GP hasn’t set aside funds against govt’s audit claim: auditor

Grameenphone has not set aside any funds against the government's claim of Tk 12,580 crore in unpaid taxes and fees, prompting its auditor to include it as an emphasis of matter paragraph in the financial statement.

An auditor's emphasis of matter paragraph indicates that the auditor's opinion is not modified with respect to the matter emphasised.

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The Dhaka Stock Exchange (DSE) disclosed the view of the auditor of the listed telecom company on its website yesterday.

The Bangladesh Telecommunication Regulatory Commission (BTRC) in 2019 asked the operator to pay Tk 12,580 crore in dues concerning the audit conducted by the commission from the period from the company's inception in 1997 to December 31, 2014.

The management of GP has contested the demands in the court. Pending final outcome of the court proceedings, the management has concluded that significant uncertainty exists to enable any reliable estimation of a potential obligation, the auditor said.

"No provision for these demands and consequential interest thereon has been made in the accompanying financial statements."

The BTRC's claim to the mobile operator stood at Tk 8,494.01 crore. The operator owed another Tk 4,085.94 crore to the National Board of Revenue from 1996 to 2017.

GP has paid Tk 2,000 crore to the BTRC as per a Supreme Court order.

The operator has a reserve of Tk 1,692 crore, according to the DSE. It provided 275 per cent cash dividend to shareholders for 2020.

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