The National Board of Revenue (NBR) granted Facebook its Value Added Tax (VAT) registration on June 13.
The social media giant applied on June 12 and got the approval to get the registration without having to open physical offices in the nation.
Facebook Technologies Ireland Ltd, Facebook Ireland Ltd and Facebook Payments International Ltd also received their Business Identification Number (BIN) certificates.
The matter was confirmed by Promila Sarkar, additional commissioner, Custom, Excise and Vat Commissionerate Dhaka North.
She stated that PricewaterhouseCoopers will be their local consultant. A 15 per cent VAT on revenue will be paid by Facebook in Bangladesh.
In 2020, Facebook Incorporated appointed an agent to do business in Bangladesh after facing pressure from the NBR. Httpool, the company’s agent, was paying VAT to the board, but Facebook still did not have a BIN in Bangladesh.
Google and Amazon obtained their Business Identification Number (BIN) from the National Board of Revenue (NBR) earlier last month, a compulsory requirement for any business operation in Bangladesh.