Saturday, September 25, 2021
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Amazon Bangladesh pays Tk53 lakh as VAT

The company Amazon Web Service has submitted a Tk3 crore 32 lakh 20 thousand taka account in its July VAT return.

Dhaka — The world’s most popular e-commerce company Amazon has submitted value-added tax (VAT) of Tk52 lakh 97 thousand 779. It is the third non-resident organization to submit VAT returns after Facebook and Google.

The company Amazon Web Service has submitted a Tk3 crore 32 lakh 20 thousand taka account in its July VAT return.

Dhaka South Customs, Excise, and VAT Commissioner on Thursday Humayun Kabir has confirmed the matter. He said Amazon paid vat through Sonali Bank. The company filed its July VAT return today (Thursday).

Earlier on August 5, Google paid around Tk2 crore 30 lakh VAT. And the popular social media Facebook, as a registered non-resident organization, first submitted around Tk2.44 crore VAT on July 29.

Under VAT law, local VAT agents are responsible for paying VAT. Companies have been facing various problems since 2019 to get VAT registration and submit VAT returns. So, there was a demand from them to get this service directly as per VAT law.

According to the ‘Value Added Tax and Supplementary Duty Act, 2012’, companies like Facebook, YouTube, Google have to take VAT registration and set up an office in Bangladesh or hire a VAT agent. The NBR later decided to bring it under a separate VAT registration number in early 2020.

On the other hand, according to the Value Added Tax and Supplementary Duty Act 2012 and the Value Added Tax and Supplementary Rules 2016, VAT registrants are required to file a VAT return within 15 days of the end of the month.

Otherwise, there is a provision for imposition of interest and penalty.

For this reason, all the customs, excise, and VAT offices in the country were open despite the strict restrictions announced by the government to help traders submit monthly VAT returns and to facilitate the receipt of returns.

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