EFDs to be set up at businesses in all districts: NBR Chairman

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DHAKA, Dec 9, 2020 (BSS) – The National Board of Revenue (NBR) Chairman Abu Hena Md Rahmatul Muneem today said that the Board has already installed some 1000 Electronic Fiscal Device (EFD) machines on test basis in Dhaka and Chattogram city Corporation areas and it is planning to expand its usage at all the businesses of other city Corporation areas and districts in phases.

The NBR Chairman said this while addressing a press conference at the NBR Building in the capital’s Segunbagicha area today ahead of the National VAT Day to be observed across the country tomorrow.

Mentioning that the use of EFDs is very much essential for keeping accurate accounts of transactions, Muneem said they would expand the use of EFDs at the business establishments of districts and also at those areas which are advanced in economic activities.

The theme of this year’s National VAT Day is “Mujibborsher Ongikar, EFD te NBR,”

The business houses were earlier used to rely on the Electronic Cash Register (ECR) machines, but those drew some allegations of alleged irregularities. To address this issue, the NBR has launched the EFDs.

The operations of EFDs will remain connected with the server of NBR. As a result, when there will be any transaction and the consumer would be provided with the invoice, then it will go automatically with the server of NBR for which there will be no scope for irregularities.

Noting that the proper usage of EFDs will become a challenge, the NBR Chairman said the NBR has introduced rewards for the consumers to motivate the businesses to use EFDs and thus they would go for more buying through using EFDs.

He said that some 101 buyers would be awarded every month through lottery once they deposit their EFD invoices and this move would further motivate themselves to go for more buying through EFDs.

Answering to a question, Muneem said any new initiative could have some problems. “But training is being imparted to the users while to make the VAT system online, the period of the VAT online project will be extended by another six months.”

The NBR Chairman told journalists that the National VAT Day will be observed this year in a simple manner due to the COVID-19 pandemic as there will be no rally, publication of souvenirs and decorations this year.

However, a seminar will be held at the NBR building tomorrow highlighting the National VAT Day.