Facebook pays Tk2.44 crore VAT...

Dhaka, Sunday   19 September 2021

Facebook pays Tk2.44 crore VAT

 Staff Correspondent daily-bangladesh.com

 Published: 04:09 PM, 29 July 2021   Updated: 06:42 PM, 29 July 2021

Facebook pays Tk2.44 crore VAT

Facebook pays Tk2.44 crore VAT

Facebook has paid a VAT return of Tk 2.44 crore to the Dhaka South VAT Commissionerate in July 2021. PricewaterhouseCoopers Bangladesh submitted the VAT return through Bangladesh Citibank NA on behalf of Facebook.

For the first time, the VAT department has received a VAT return from a registered non-resident organization conducting business in Bangladesh, said Dhaka South VAT Commissionerate source.

A senior official of the Dhaka South VAT Commissionerate said that Facebook has paid VAT returns as a regular taxpayer this month. The registered taxpayer is required to file a VAT return every month stating the account of the transaction.

On June 13, Facebook received a Business Registration Number (BIN) from the Dhaka South VAT Commissionerate as a non-resident organization, known as VAT Registration. In this case, the organization has used an Irish address.

So far, four non-resident organizations have registered for VAT. Besides Facebook, the other three organizations are Google, Amazon, and Microsoft.

Google has registered for VAT on May 23 while Amazon on May 26 and Microsoft on July 1. Microsoft will start paying returns next August. The rest have applied for extension of VAT return submission time.