Dhaka: Microsoft, one of the world’s largest tech giants, has registered Business Identification Number (BIN) in Bangladesh as the fourth company without a permanent office. The Dhaka South VAT Commissionerate handed over the registration to Microsoft on Thursday (July 1).
The company is registered in Singapore under the name Microsoft Regional Sales PTE Limited. With the registration, Microsoft will from now on submit a regular VAT return as a business operator in Bangladesh. As a result, the VAT authorities will be able to audit their returns.
Regarding the approval of BIN by Microsoft, SM Humayun Kabir, Commissioner, Dhaka South VAT Commissionerate, said, “Among the non-resident organizations that advertise in the country, Microsoft has registered VAT after Facebook, Google, and Amazon. As a result, the company will file a return to us from now on. We can audit”.
He said the advantage of registering these institutions is that they will submit returns, they can be checked and selected.
We can audit, they can also check whether they are compliant. Online entertainment channels Netflix and Hoichoi will soon be given VAT registration, he said.
Note that Microsoft sells software and apps in addition to advertising. Yahoo’s activities are associated with Microsoft. For that, they have to pay VAT on the services provided by Yahoo. Earlier, to this VAT was deducted from Microsoft’s services. VAT is deducted when sending Microsoft’s bill money abroad. Bank authorities automatically deduct 15% VAT.
Earlier in June, Facebook and in May, Google and Amazon acquired VAT registration.