March 28, 2024, 6:25 pm


Staff Correspondent

Published:
2021-07-30 02:23:52 BdST

Facebook pays Tk2.5 crore VAT


Multinational conglomerate Facebook has filed a Value Added Tax (VAT) return of around Tk 2.44 crore to Bangladesh in June.

PwC Bangladesh filed the VAT returns on behalf of Facebook, Promila Sarkar, additional commissioner at Dhaka South Custom, Excise and Vat Commissionerate, confirmed the news to media today.

Of the amount, Facebook Ireland Limited paid Tk2,43,27,599, Facebook Payments International Limited Tk 24,070 and Facebook Technologies Ireland Limited paid Tk25,006 in VAT.

All the returns were submitted to the Dhaka South Customs, Excise and VAT Commissionerate on 15 July.

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

Without having to open physical offices in the country, Facebook received its VAT registration from the National Board of Revenue (NBR) last month.

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 board.

Earlier in May, Google and Amazon obtained their Business Identification Number (BIN) from the National Board of Revenue (NBR) - a mandatory requirement for any business operating in Bangladesh.

Unauthorized use or reproduction of The Finance Today content for commercial purposes is strictly prohibited.


Popular Article from Tech