NBR invites local suppliers to apply for EFD management

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The National Revenue Council has invited local suppliers to submit applications to manage its electronic tax system system to promote the collection of value added tax.

The tax administration has published a tender notice asking private companies with at least five years of professional experience in the field to submit their applications by January 16, 2022.

A senior NBR official said the tax administration will allow private companies on the ground with the aim of promoting the EFD system in the country.

The NBR has so far distributed 3,393 EFDs in Dhaka and Chattogram at no cost to promote the system among businesses.

On October 6, the NBR imposed fees ranging from Tk 20,500 to Tk 24,000 for the installation of a single EFD and SDC.

On August 25, 2019, the BNR introduced the business transaction tracking service to verify VAT evasion.

In August 2018, the BNR made the use of EFD or point of sale (POS) software, abandoning the traditional electronic cash registers (ECR), mandatory for stores and service providers from November 1 of the same year.

A total of 24 types of business services with annual turnover above 50 lakh Tk are required to use the system.

In accordance with the VAT law, the BNR can initiate legal proceedings in the event of misuse of the EFD or the SDC.


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