Loading...
The Financial Express
Swasti Lankabangla Swasti Lankabangla

Pilot to prod firms to automate accounts

NBR to supply free electronic devices


| Updated: August 16, 2020 10:10:07


Picture used for representation Picture used for representation

The government has decided to provide the electronic fiscal device (EFD) free-of-cost to the businesses in order to encourage them to automate accounts.

To this effect, the National Board of Revenue (NBR) is going to start distributing the first phase of EFD on August 25 on a pilot basis.

Out of 100, some 80 EFD will be distributed to the businesses in Dhaka while 20 in Chittagong.

A senior official of the NBR said the finance minister has given his consent to distribute EFD for free to the businesses.

"We want to popularise the recorded transaction in shops and retail outlets. I hope businesses will be encouraged to use the device if it is distributed free-of-cost." he said.

In the next phase, some 500 EFD might be distributed to the businesses and shops, he added.

The NBR has already approved the purchase of 0.1 million EFDs at a cost of Tk 3.17 billion from a consortium of China-based SZZT Electronics and local Synesis IT.

The devices will be provided free of cost to shops and businesses, considering the adverse impact on the economy of coronavirus outbreak, officials said.

They said the move may continue further as the government high-up seems positive to provide the device for free.

On August 2018, the NBR made installation of EFD or sales data controller (SDC) or point of sales (POS) software mandatory for 24 types of shops and service providers, scrapping the traditional electronic cash register machines (ECR).

The shops include hotels, restaurants and fast food shops, sweetmeat shops, jewellery shops, furniture shops, beauty parlours, electric and electrical household items, shopping centres, departmental stores, general stores or super shops, large and medium-scale firms, mechanised laundries, cinemas and security services.

The EFD or SDC or POS will be connected with the electronic fiscal device management system (EFDMS) of the NBR. VAT offices can track the transactions online to ensure VAT collection from the sectors.

VAT offices will get real-time sales data after the implementation of the system.

doulot_akter@yahoo.com

Share if you like