Last Updated on 19/01/2022 by DataWorld.xyz
Google and Amazon VAT Register For Business in Bangladesh
Google Search engine giant and e-commerce giant Amazon have obtained their Business Identification Number (BIN) from the National Board of Revenue (NBR) for operating business in Bangladesh.
They became the first two non-residential companies to register for BINs in the country. The tech companies will now pay a 15% VAT on revenue derived from Bangladesh and submit returns on the total turnover at the end of each year.
Confirming the information, NBR officials said that this move will speed up the process of such companies opening their offices in Bangladesh, and clear the way for corporations like social media site Facebook to register here as well.
A BIN has issued to Google on Monday and Amazon on Thursday, said NBR’s VAT Online project director Kazi Mostafizur Rahman, adding that the tech giants registered under the names The Google Asia-Pacific Pte Ltd and Amazon web services Inc respectively.
Earlier, Facebook Inc appointed an agent to do business in Bangladesh last year, after facing pressure from the NBR. The company’s agent Httponly has been paying VAT to the board, but Facebook still does not have a BIN in Bangladesh.