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Netflix Gets VAT Registration from NBR

Netflix || Photo: Collected

Netflix || Photo: Collected

Netflix has received the Value-Added Tax (VAT) number from the National Board of Revenue (NBR).

According to a press release, the web streaming giant acquired its firm identity number (004319482/0208) registration from the Dhaka South VAT Commissionerate on Wednesday.

Netflix registered under the name of Netflix PTE Limited, Singapore, using its Singapore address.

SM Humayun Kabir, commissioner, Custom, Excise, and VAT Commissionerate, Dhaka South, confirmed the matter to the media.

PricewaterhouseCoopers will be their local consultant. Netflix will now pay a 15% VAT on revenue derived in Bangladesh from December, said the commissioner.

NBR made it mandatory 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 in July 2019, he added.

Earlier in this fiscal year, Google, Facebook, Amazon, and Microsoft obtained their business identification number from the NBR. These multinational companies are now paying VAT regularly to NBR.

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