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Amazon paid VAT for the first time in Bangladesh

One of the world’s most popular e-commerce giants, Amazon paid about Rs 53 lakh in value-added tax (VAT). Today, on Thursday, the company submitted its monthly return for the first time and submitted VAT to the government treasury. After Facebook and Google, Amazon also paid VAT in this country. As non-resident organizations, these giant global companies started paying VAT with returns.

Today, Amazon Web Services Inc. has deposited Tk 52 lakh 98 thousand 60 VAT through Sonali Bank. In addition, PricewaterhouseCoopers Bangladesh has submitted a VAT return on behalf of the company.

Earlier last month, for the first time as a non-resident organization, social media Facebook deposited Tk 2.44 crore in the government treasury with VAT return. This month, another global company Google has paid VAT of Tk 2.29 crore.

Non-resident organizations (which do not have a permanent office in this country) provide themselves with various services, including advertisers. With these services, customers pay by credit card or any other means through the bank. Then the bank authorities automatically deducted 15 percent VAT. If VAT is not deducted, Bangladesh Bank will not allow the institution to send money abroad. As a result of VAT registration, the company will have to pay VAT return by providing all the income and expenditure information including the amount of money sold by the company.

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