Facebook obtains VAT registration from National Board of Revenue

CNI Desk: Social media giant Facebook on Sunday got Value Added Tax (VAT) registration from the National Board of Revenue (NBR).

The National Board of Revenue (NBR) in July 2019 slapped conditions for tech giants to either set up offices in Bangladesh or appoint agents such that the government can collect VAT on the advertisements and other services provided by them to local firms.

Three entities of Facebook--Facebook Technologies Ireland Ltd, Facebook Ireland Ltd and Facebook Payments International Ltd--got Business Identification Numbers (BIN) from Dhaka South VAT Commissionerate.

 

Promila Sarkar, additional commissioner, Custom, Excise and Vat Commissionerate Dhaka North, confirmed the news.

Earlier last month, 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.