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Electronic fiscal devices to replace ECR, POS

FE Report | June 08, 2018 00:00:00

The finance minister has proposed mandatory use of new electronic fiscal devices (EFD) in business units to check revenue leakage.

AMA Muhith announced this while placing the budget for the next fiscal year (FY) in parliament on Thursday.

The new electronic fiscal devices will replace the electronic cash register (ECR) and the point of sale (POS).

Muhith said the use of EFD instead of ECR and POS would be made mandatory in all hotels, restaurants, resorts and shops across the country.

This will enable the National Board of Revenue (NBR) to have real-time access to business transactions which will eventually protect revenue leakage and increase revenue collection significantly, he added.


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