NBR invites applications from local vendors for EFD management

The National Revenue Office has invited local suppliers to submit applications for the management of its electronic tax device 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 authority will allow private companies in the field 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 to businesses.

On October 6, the NBR imposed a fee of between Tk 20,500 and Tk 24,000 for the installation of an EFD and SDC.

On August 25, 2019, the BNR introduced the business transaction monitoring service to check VAT evasion.

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

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

In accordance with the VAT law, the BNR can take legal action in the event of improper use of the EFD or the SDC.

About William G. Patrick

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