December 4, 2020, 10:55 am


2020-09-26 10:43:09 BdST

Facebook’s partner in Bangladesh pays Tk 17m in VAT, fines

Httpool, the sales partner of social media titan Facebook in Bangladesh, has paid over Tk 17 million in VAT and fines for dues on being sued by the National Board of Revenue.

The VAT Audit, Intelligence and Investigation Directorate of the NBR also dropped the lawsuit against Httpool after it paid the money.

It paid over Tk 9.1 million in VAT against Tk 62.3 million ad revenue in August, the head of the directorate, Moinul Khan, said on Wednesday.

Httpool also paid over Tk 7.76 million in VAT and Tk 155,000 in fines after the directorate started the case against the firm on charges evading taxes on August 13.

The directorate had initiated the case after failing to find the company’s office in the address mentioned on its papers.

“They have opened an office after paying the money,” Moinul said on Wednesday.

According to the case dossier, the VAT directorate agents had found that Httpool collected Tk 62.2 million from 31 firms through 198 invoices and charged Tk 9.3 million in VAT.

But it had not submitted VAT return though it is mandatory to submit the returns every month. As a result, the government coffer had not received the VAT charged by the firm in this period.

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