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Tech giants must submit income tax returns

Tech giants such as Google or Meta (Facebook) will have to submit income tax returns from next fiscal year.

Finance Minister AHM Kamal proposed it in his budget speech today.

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"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," he said.

He also proposed that the National Board of Revenue (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.