VAT-enabled EFDs at selected shops from August 25

Chairman of National Board of Revenue (NBR) Abu Hena Md Rahmatul Muneem has said the revenue board will start 100 Electronic Fiscal Devices (EFD) to increase VAT (Value-Added Tax) earning at shops from August 25.

“We have already installed EFDs in different shops in Dhaka city,” he added.

NBR Chairman told reporters on Monday after a virtual meeting regarding earning of the National Board of Revenue.

Last July 2019, NBR imported 1,00,000 electronic sales register machines for about Tk 317 crore as part of the government’s plan to check VAT evasion at the retail and wholesale levels.

It has already finished the tender evaluation process and selected the winning bidder to supply the devices, which is going to install at 25 types of businesses, including shops, hotels, restaurants and sweets stores, clothing, furniture and electronics outlets and jewellery.

Initially, the device is going to be set up at 100 shops located at Bashundhara City Shopping Mall and Jamuna Future Park in Dhaka as part of implementation of the provision.