Govt approves proposal for appointing vendors for EFDs

FE Team | Published: September 02, 2022 21:42:11

The government has approved a proposal in principle for appointing service providing vendors for supplying, using Electronic Fiscal Devices (EFDs) and collecting information on realised VAT at the retail level in a bid to boost revenue collection, reports BSS.
The approval came in the 19th meeting of the Cabinet Committee on Economic Affairs (CCEA) this year held on Wednesday virtually with Finance Minister AHM Mustafa Kamal in the chair.
Briefing reporters after the meeting virtually, Cabinet Division additional secretary Md Abdul Barik said that the meeting approved a total of two proposals.
He said the appointed vendors would collect VAT related information and thus convey those to the National Board of Revenue (NBR).
"The vendors will conduct the work of service outsourcing," he said.
An agreement would be signed between the NBR and the vendors under which the vendors would receive service charges for rendering their services.
He said that some 300 thousand (3 lakh) Electronic Fiscal Devices (EFDs) would be installed and distributed in the Dhaka metropolitan area, outside Dhaka and the Chattogram region for collecting VAT.
The Cabinet Division additional secretary said the vendors would be selected through bidding and once appointed they would impart training to the businessmen at the retail level and thus motivate them to use the EFDs.
The CCEA meeting also approved a proposal in principle from the Local Government Division for the project for water supply from the Meghna after treating it on the PPP and G to G basis at the Bangabandhu Sheikh Mujib Industrial Estate. The Chattogram WASA will implement it.