'Govt to impose tax on social media'

FT ONLINE

The government plans to impose tax on income of social media sites, Facebook, YouTube and Google, in the upcoming budget of 2018-2019.

"We are going to impose tax on Facebook, You Tube and Google. Every where they pay tax, but they don't pay any tax in this country," Finance Minister Abul Maal Abdul Muhith told journalists after a pre-budget meeting with editors, managing directors and chief executive officers(CEO) of print and electronic media at state guest house, Padma, in the capital.

They discussed various issues, including corporate tax, Indian channels operating in the country and Value Added Tax (VAT) on private universities.

Muhith said the government would rationalize corporate tax in the next budget as the tax rate is very high.

He said the government will continue the VAT for private universities. "We will take VAT from private university owners," he added.

The government would also impose charge on Indian channels operating in the country, as India imposes a high operating charge on Bangladeshi channels operating there, he added.