The National Board of Revenue (NBR), in the new world on the Internet world, or in the new platform, will introduce VAT. According to the new notification, the social networking site Facebook, popular video sharing sites YouTube and search engine advertising ads on Google will pay the advertiser. This tax will be at 15 percent rate.
Earlier, the initiative to take initiative in this budget will be effective from now on. Because the NBR sent a letter to the commercial banks of the country through a directive regarding this.
NBR's Large Taxpayer Unit (LTU) Commissioner Matiur Rahman said this instruction was given in view of claims of various parties, including the owners of the TV and newspaper. As a result, if you advertise on the digital platform from the financial year 2017-18, 15 percent of the value added tax or VAT will be required.
Regarding the letter sent to banks, he said, "We have given the letter to keep 15 percent VAT for the advertisement, which is used on Facebook, Google and YouTube, through the bank's financial transactions. They will then deposit this money to us. Initially the banks will keep VAT on the money.
He also said that we would also monitor the advertising transactions outside the banking channel.
NBR chairman recently Mosharraf Hossain Bhuiyan said in a pre-budget discussion that taxes will be levied on advertiser organizations, not from Facebook and Google but not from Facebook.
He said that direct taxes can not be imposed on the organizations because Facebook and Google's offices are not in Bangladesh. Taxes can not be imposed until their office is in Bangladesh. But through these advertisements, we can impose taxes on them.
Referring, on April 4, at the conference room of NBR, Newspaper Honors Association of Bangladesh (Noab) and Association of Television Channel Honors (Atco) leaders told to bring Facebook, YouTube and Google under tax. In view of this, NBR also assured that it will be implemented in the next budget. But it was effective before the budget.
MA / ZA / PR
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