Facebook leads Tk 4.6cr VAT payment in August

Five global tech firms paid Tk 4.6 crore as value-added tax (VAT) in August, with social media giant Facebook depositing the highest amount, which reflects the growing interest of businesses in using advertisements about their products and services in the digital sphere.

Three entities of Facebook, which got VAT registration from the National Board of Revenue (NBR) in June this year, paid a total of Tk 2.56 crore in August, said SM Humayun Kabir, commissioner of VAT Commissionerate, Dhaka South.

Facebook's VAT payment declined 3 per cent in August from that in July this year.

Google Asia Pacific Ltd, a concern of Google, deposited the second highest amount of VAT in August at Tk 1.70 crore, down 8 per cent from Tk 1.85 crore the previous month, according to the NBR official.

Last month global e-commerce company Amazon Web Services Inc paid Tk 34.7 lakh as VAT.

Meanwhile Microsoft has sought time for submission of VAT returns, according to the NBR.

So far six tech companies signed up for VAT registration in May and June this year in line with a previous rule of the NBR.