Facebook pays Tk 2.44cr VAT, Google, Amazon, Microsoft to pay soon

 

Live Correspondent: American multinational conglomerate Facebook submitted Value Added Tax (VAT) returns of Tk 2.44 crore to Bangladesh in June this year. The PricewaterhouseCoopers (PWC) Bangladesh submitted the VAT returns on behalf of Facebook, said sources at Dhaka South Customs, Excise, and VAT Commissionerate, on Thursday.

Facebook Ireland Limited paid Tk 2,43,27,599, Facebook Payments International Limited Tk 24,070, and Facebook Technologies Ireland Limited paid Tk 25,006 in VAT through a branch of Citibank NA in Dhaka..

All the returns were submitted to the Dhaka South Customs, Excise, and VAT Commissionerate on June 13 using Facebook's Ireland address.

This is the first time that the VAT Commissionerate has received a VAT return from a registered non-resident organization doing business in Bangladesh.

Facebook received its registration from the National Board of Revenue (NBR) last month, without having to open any physical office in the country.

Facebook Technologies Ireland Ltd, Facebook Ireland Ltd, and Facebook Payments International Ltd also received their Business Identification Number (BIN) certificates.

Last year, Facebook Inc appointed an agent to do business in Bangladesh after facing pressure from the NBR. The company's agent Httpool was paying VAT to the NBR.

Earlier in May, Google, Amazon, and Microsoft obtained their registration from the NBR – a mandatory requirement for any business operating in Bangladesh. Google obtained registration on May 23, while Amazon on May 27. Microsoft obtained registration on July 1.

Dhaka South Customs, Excise, and VAT Commissionerate sources said Amazon and Google have already requested to extend the VAT return submission time limit. The authorities concerned responded to their requests. The two international companies will submit returns from August, it is learned.

Dhaka, 28 July (campuslive24.com)//BSC

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