Tech giants Google and Amazon acquired Business Identification Number (BIN) from the National Board of Revenue last week to run their business in Bangladesh while ensuring value added tax (VAT) compliance.
The companies will now pay a 15% VAT on revenue earned from the country.Google got its VAT registration certificate on May 23 and Amazon on May 27. These tech giants earlier paid VAT through banks.
Both companies got the BIN as non-residential companies. PwC Bangladesh, the consultant appointed by both ventures, did the paperwork processing for them and will act as their VAT consultant.