World’s largest tech giants, Google & Amazon have finally decided to open their business here in Bangladesh. They have registered & obtained their Business Identification Number (BIN) from the National Board of Revenue. This is a prerequisite for any businesses that wish to operate in Bangladesh.
Through this, the tech giants will now pay 15% VAT on top of the revenue earned from the country.
This move will clearly pave the way to opening their offices here in Bangladesh. This will inspire Facebook, Netflix and other international tech companies to do the same.
As per The Business Standard, NBR’s VAT Online project director Kazi Mostafizur Rahman said, “We issued a BIN to Google on Monday and Amazon on Thursday. They registered under the names The Google Asia-Pacific Pte Ltd and Amazon web services Inc respectively.
“We already handed over the copies of registration documents to PricewaterhouseCoopers (PwC) – which serves as consultants for both companies in Bangladesh.
Google currently has around more than 70 offices operating in 50 countries whereas Amazon have their offices spanned in 17 countries.
Bangladesh Digital Landscape
The digital landscape here in Bangladesh is rapidly evolving with a booming e-commerce sector. Big brands and small businesses are always using the advertising services from Google & Facebook and other products from Amazon. As per The Business Standard, the tech trio is reportedly earning around Tk 3,000 crore from Bangladesh annually.
Is Amazon E-Commerce coming to Bangladesh?
This is one of the main question that has been buzzing around the tech space here in Bangladesh. From what we have understood, Amazon has registered themselves as Amazon Web Services Inc respectively (AWS). Amazon Web Services concentrates on providing cloud computing platforms, APIs to companies, individuals & govt on either pay as you go or subscriber basis. If it was the e-commerce, the BIN name should have been Amazon.com (or something else)
All in all, this is a good news for the Bangladesh tech scene. With this two giants already having their BINs, it’s only a matter of time till Facebook & Netflix also does the same.
News Source: The Business Standard
