Netflix gets VAT registration in Bangladesh
02 December 2021, 04:41 pm | Updated: 22 November 2024, 03:58 am
The USA-based subscription streaming service and production company Netflix has got the Value-Added Tax (VAT) identification number from the National Board of Revenue (NBR).
The Web streaming giant yesterday received the Business Identification Number (004319482/0208) registration from the Customs, Excise and VAT Commissionerate, Dhaka South.
Netflix in this regard used its Singapore address and received the registration with the name of Netflix PTE Limited, Singapore.
SM Humayun Kabir, Commissioner, Custom, Excise, and VAT Commissionerate, Dhaka South confirmed it.
He said PricewaterhouseCoopers would be their local consultant. Netflix will now pay 15 percent VAT on revenues generated from Bangladesh from this December.
The NBR made it mandatory in July 2019 for tech giants to either set up offices in Bangladesh or appoint agents so that the government can collect VAT on the advertisements and other services provided by them to local firms.
