VATupdate

Complexity and red tape hampers Bangladesh VAT compliance

Major international businesses failed to submit their VAT returns on time to Bangladesh tax authorities, owing to the complexities of VAT compliance.

According to local reports, two tech giants, Amazon and Google, were among the firms that failed to meet Bangladesh’s VAT submission deadline.

According to the reports, the nonresident tech giants don’t have bank accounts in Bangladesh. They thus face difficulties transferring the requisite cash.

Source VATglobal

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