NBR not getting VAT from Facebook even after hiring an agent | The Business Standard
Skip to main content
  • Home
  • Economy
    • Aviation
    • Banking
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Food
    • Habitat
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wheels
  • Epaper
    • GOVT. Ad
  • More
    • Subscribe
    • Multimedia
    • TBS Graduates
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Long Read
    • Interviews
    • Offbeat
    • Tech
    • Magazine
  • বাংলা
The Business Standard

Sunday
December 10, 2023

Sign In
Subscribe
  • Home
  • Economy
    • Aviation
    • Banking
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Food
    • Habitat
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wheels
  • Epaper
    • GOVT. Ad
  • More
    • Subscribe
    • Multimedia
    • TBS Graduates
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Long Read
    • Interviews
    • Offbeat
    • Tech
    • Magazine
  • বাংলা
SUNDAY, DECEMBER 10, 2023
NBR not getting VAT from Facebook even after hiring an agent

NBR

TBS Report
13 August, 2020, 10:30 pm
Last modified: 13 August, 2020, 10:35 pm

Related News

  • Installation of electronic fiscal devices at snail's pace
  • The buzzing world of content creation
  • Meta encrypting Messenger and Facebook chats
  • Ctg customs posts 7.7% revenue growth in November
  • Gold stealing incidents at airport tarnish country's image: DU VC

NBR not getting VAT from Facebook even after hiring an agent

The NBR has come to know the social media company has received 198 advertisements and invoices worth Tk6.22 crore from 31 companies

TBS Report
13 August, 2020, 10:30 pm
Last modified: 13 August, 2020, 10:35 pm
Those who have already downloaded the app and are using it, can continue to use it. Photo: Reuters
Those who have already downloaded the app and are using it, can continue to use it. Photo: Reuters

As Facebook did not have an office in Bangladesh, the National Board of Revenue (NBR) appointed Httpool as an agent to collect VAT on advertisements on the social media platform from local companies.

However, Httpool has not paid any VAT to the NBR since it was appointed in May. The company has even stopped its activities at the address given to the NBR.

The NBR came to know that Httpool had received 198 advertisements and invoices worth Tk6.22 crore from 31 companies.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

After raiding the company's office on Thursday, the NBR's VAT Audit and Intelligence Department filed a case against Httpool for violating several sections of the VAT Act, including not submitting VAT returns and changing offices.

Director General of VAT Intelligence Moinul Khan told The Business Standard, "VAT detectives raided Httpool's office following a complaint and found no activity or existence of the company at the registered location. According to the VAT law, if you want to change office location, you have to inform the VAT office."

He said, "According to the registration with the NBR, the address was used as Shah Ali Tower, 11th floor, 33 Kawran Bazar, Dhaka. Its BIN is 002748360203. Apart from not running the office, it has not filed any return yet after being registered three months ago. According to the VAT law, it is mandatory to file a return every month."

According to the investigation of VAT detectives, the local Facebook agent has already collected advertisements worth Tk6.22 crore in 198 invoices from 31 companies. They have deducted VAT of Tk 93.32 lakh at the rate of 15 percent.

The lawsuit was filed because there was a risk that the deducted money would not be deposited in the government treasury, for not submitting the monthly return, and for nonexistence in the given address without approval.

The case has been sent to the Dhaka South VAT Commissionerate for disposal, VAT detective authorities said.

The online advertising market is around Tk2,000 crore, half of which is done by Facebook. There are currently 3.5 crores Facebook users in Bangladesh, which will be 10 crores in 2021.

Apart from Facebook, a total of 41 companies have been hired as agents to collect VAT from other foreign online platforms including Google, YouTube, Twitter and WhatsApp.

Economy / Top News

NBR / revenue / Facebook

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Photo: Bloomberg
    Oil, gas reserves discovered in Sylhet-10 well
  • Installation of electronic fiscal devices at snail's pace
    Installation of electronic fiscal devices at snail's pace
  • Sadika Sarker Safa, daughter of missing Jatiyatabadi Chhatra Dal leader Md Sohel, sobs for her father at a human chain organised by ‘Mayer Daak’, an organisation of the relatives of the victims of enforced disappearance, at the National Press Club yesterday. Sohel was the vice president of Bangshal thana unit Chhatra Dal, when he was picked up from the capital’s Shahbagh in 2013 by men claiming to be from law enforcement agencies and has been missing since then. Photo: TBS
    Extrajudicial killings decline, rights issues still a concern in Bangladesh

MOST VIEWED

  • Infographics: Mehedi Hasan Marof/TBS
    India's export embargo sends onion prices soaring to Tk220 per kg
  • Infographic: TBS
    Automatic fuel oil pricing from March in Bangladesh
  • Mushfiqur takes legal action against Ekattor TV over 'false report'
    Mushfiqur takes legal action against Ekattor TV over 'false report'
  • Mixed prices in Dhaka's beef market despite set rate
    Mixed prices in Dhaka's beef market despite set rate
  • Tuhin Bin Salam has been at the helm of the business since his father died in 2017. Photo: Nayem Ali
    60-year legacy: A chronicle of Salam Stamp Centre
  • Is the energy demand forecast for 2021-41 based on the wrong premise?
    Is the energy demand forecast for 2021-41 based on the wrong premise?

Related News

  • Installation of electronic fiscal devices at snail's pace
  • The buzzing world of content creation
  • Meta encrypting Messenger and Facebook chats
  • Ctg customs posts 7.7% revenue growth in November
  • Gold stealing incidents at airport tarnish country's image: DU VC

Features

US Veto: Israel's license to kill

US Veto: Israel's license to kill

4h | Panorama
In the last 30 years, Akter Hossain performed more than 5,000 magic shows all over the country, even in India. Photos: Noor-A-Alam

The fading enchantment of Dhaka's magic schools

4h | Panorama
Climate solutions are debatable, but science is inescapable

Climate solutions are debatable, but science is inescapable

4h | Panorama
Say hello to my little friend: Scarface turns 40

Say hello to my little friend: Scarface turns 40

17h | Features

More Videos from TBS

The digital money magic in rural economy

The digital money magic in rural economy

44m | TBS Economy
Despite salinity, Sunflowers bloom

Despite salinity, Sunflowers bloom

1h | TBS Stories
Why do criminals smuggle garlic?

Why do criminals smuggle garlic?

1h | TBS Stories
Cricket icon and ‘Tied Test’ hero Joe Solomon dies at 93

Cricket icon and ‘Tied Test’ hero Joe Solomon dies at 93

15h | TBS SPORTS
EMAIL US
[email protected]
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2023
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - [email protected]

For advertisement- [email protected]