Speakers at a roundtable have called upon the authorities to establish equality within the U.S.’s virtual marketing environment. The Digital Marketing Payment Policy roundtable was held during the 15th version of the BASIS SoftExpo 2019. The three-day expo—with the slogan “Technology for prosperity”—kicked off at the International Convention City Bashundhara in Dhaka on March 19.
Rezaul Hasan, a member of the VAT Policy Department of the National Bureau of Revenue (NBR), was a gift as the chief guest of the roundtable.
Mohammad Risalat Siddique, chairman of the BASIS Standing Committee on Digital Marketing, presented a paper emphasizing Facebook and Google’s position in virtual advertising and how these large businesses are conducting commercial enterprises in Bangladesh.
He found that discovered judgments worth around $20 billion yearly are posted on Facebook from Bangladesh.
In the past two years, the United States of America’s digital advertising and marketing variety has expanded extensively. However, a few complexities remain in Tax, VAT, and payments.
The negotiators on the roundtable mentioned the solution to remedy this trouble. To extend the digital advertising sector and bring transparency in VAT /Tax, a specific fee device with a planned guiding principle is wanted, the negotiators stated, adding that following that device, Google and Facebook can pay VAT/Tax so that the government’s revenue profits may be ensured.
The negotiators also demanded the government abolish the five-year non-resident tax imposed on the sector for digital advertising. Everyone is encouraged to use this valid payment channel without making unlawful payments.
If the device is used, all digital marketing bills might be criminal, and the authorities will realize how much money is going to Google and Facebook. This can help the authorities bring the massive companies to the geographical region because they have been in India, they stated.
The speakers at the roundtable additionally demanded that nearby advert networks be exempt from VAT and taxation so that local industries could compete with Google and Facebook and take ownership of the marketplace.
They said encouraging local advertisers to advertise on local systems would result in a surrender to the prevailing monopoly and make a loose marketplace gadget work.
They also demanded that a proper market be built so that it reflects the imminent price range. Expansion of the neighborhood marketplace in the digital advertising and marketing zone might guarantee sales to the government, they said.
He thanked the BASIS Standing Committee on Digital Marketing and stated that once many things become transparent, this fee machine will be added, and the VAT/Tax exemption will be clean.
He also said that he could provide maximum help to the proposed policy. KAM Rashedul Mazid, the co-chairman of the BASIS Standing Committee on Digital Marketing, moderated the program.
BASIS President Syed Almas Kabir, Director-in-Charge of the status committee Didarul Alam, Country Manager of Master Card Syed Mohammad Kamal, Chief Operating Officer of SSL Wireless Ashish Chakrabarty, and Chief Executive Officer of Infotech Limited Sirajul Islam were additionally present at the program.
