Tech giants like Google or Meta (Facebook) will have to submit income tax returns from the 2022-2023 fiscal year, Finance Minister AHM Mustafa Kamal has announced.
The finance minister read out the proposals for the 2022-2023 fiscal year in parliament on Thursday.
He said: “One of the major challenges in tapping revenue in this era of globalized economic activities is to collect proper taxes from non-resident taxpayers and digital service providers, and to make them follow the rules and regulations strictly.
“With a view to collecting expected revenue from non-residents in Bangladesh, I propose to withdraw the provision of exemption from submission of income tax return for those not having any permanent establishment in Bangladesh.”
The finance minister also proposed that NBR formulate proper rules defining the scope and areas of income and exemption of non-residents to ensure proper collection of revenue from them.
“Also, I propose to make presenting proof of submission of return a mandatory provision in cases where income arises to a person from Bangladesh through digital presence,” he added.
