Search the Community
Showing results for tags 'corporate tax'.
Found 1 result
https://www.tbsnews.net/economy/facebook-pays-tk244-crore-vat-bangladesh-280768#.YQKR6-JviE4.facebook TBS Report 29 July, 2021, 05:25 pm Last modified: 29 July, 2021, 08:25 pm Facebook pays Tk2.44 crore VAT to Bangladesh This is the first time that the VAT department has received a VAT return from a registered non-resident organisation doing business in Bangladesh Multinational conglomerate Facebook filed Value Added Tax (VAT) returns of around Tk2.44 crore to Bangladesh in June this year. The PricewaterhouseCoopers (PWC) Bangladesh filed the VAT returns on behalf of Facebook, Promila Sarkar, additional commissioner at Dhaka South Custom, Excise and Vat Commissionerate, told The Business Standard on Thursday. Facebook Ireland Limited paid Tk2,43,27,599, Facebook Payments International Limited Tk24,070 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. Facebook received its VAT registration from the National Board of Revenue (NBR) last month, without having to open physical offices 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 board. Earlier in May, Google and Amazon obtained their BIN from the NBR – a mandatory requirement for any business operating in Bangladesh.