FB pays Tk 2.27cr in VAT for July in Bangladesh

August 19, 2021

Facebook filed value-added tax worth Tk 2.27 crore against its business in the month of July in Bangladesh on Tuesday. For July, Facebook Ireland Limited paid Tk 2,64,91,643, Facebook Payments International Limited Tk 16,785 and Facebook Technologies Ireland Limited paid Tk 2,294 in VAT. Earlier in June, Facebook was the first non-resident organisation to file VAT returns in Bangladesh. The global social media giant paid VAT worth Tk 2.44 crore then. 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. PwC Bangladesh, Facebook’s local representative in the country, filed the VAT returns at the Dhaka South Custom, Excise and Vat Commissionerate which deposited the money in the government treasury. The NBR’s VAT wing in 2019 brought non-resident foreign companies under the VAT net and made VAT registration mandatory for the firms. Facebook received its VAT registration from the National Board of Revenue in June. The companies came under the VAT net as the NBR brought the required changes in the VAT law and rules in this regard.

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