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The revenue board will offer Genex Infosys Ltd a 0.52-per cent commission in Dhaka and 0.53 per cent in Chattogram on VAT collected through electronic devices.
The private vendor will install and maintain electronic fiscal devices (EFDs) or sales data controllers (SDCs) under a contract with the VAT wing.
The National Board of Revenue (NBR) officially handed over the responsibility to Genex on August 22 to collect value-added tax (VAT) from retail and wholesale businesses accurately.
"The company will distribute the devices free of cost and also be responsible for its maintenance," said Dr Moinul Khan, member of VAT implementation and IT.
Genex will initiate motivational steps for both revenue officials and consumers to popularise EFD/SDC.
In exchange, Dr Khan said, the firm would receive a commission on the VAT it collects from EFD-installed retail and wholesale shops.
The NBR issued a guideline, signed by VAT policy wing's first secretary Md Hashmat Ali, on Monday, determining the working procedure for both Genex and VAT officials.
Field-level VAT officials will do a survey to prepare the list of businesses for installing EFDs or SDCs.
The list of selected businesses will then be handed over to Genex to install the devices.
The company is supporting the revenue authorities to install and manage EFDs/SDCs in retail and wholesale businesses in Dhaka and Chattogram.
The NBR issued this general order on new EFDMS introduced on August 22 in partnership with Genex.
"As per the contract, the vendor will install 0.3-million devices to retailers in the next five years in Chattogram and Dhaka areas," said Dr Khan.
The company will be responsible for installing the devices to capture sales data and send it to the NBR's central server.
As per the guideline, Genex will arrange training programmes for the officials of business outlets as well as for VAT officials.
It will monitor invoice issuances online, set up service centres, provide instant (maximum 24 hours) replacement of out-of-order devices, keep adequate storage of devices, prepare video clips, documents or advertisement content to build awareness.
Businesses will be able to submit a short form of VAT returns through the devices.
If any business under the EFD/SDC eligible list uses POS or own software, Genex will set up interconnectivity between an SDC and their software with the support of their software provider or the business entity concerned.
For any out-of-order device, a business will be able to fill in VAT form manually and issue challan.
Later, they will have to enter sales information when the device is repaired or replaced.
In case of non-cooperation, Genex will be able to lodge written complaints with evidence with the VAT commissionarates concerned to take punitive action.
It will also be able to file complaints against any non-compliant business that avoids issuance of challan through an electronic device.