Chattogram Bureau :
Two years ago, the National Board of Revenue (NBR) started installation of Electronic Fiscal Devices (EFDs)
in various business
establishments to speed up VAT collection.
As a result, the value added tax (VAT) is separated from the payment made by a customer for the purchase of goods
or services. VAT evasion is not possible as the EFD machine is connected to NBR’s server. As a result, VAT collection is increasing in EFD.
VAT officials said that collection of VAT on EFD is very easy. However, in this case, buyers should also be aware. They must understand the EFD invoice. 101 prizes are being awarded through lottery every month within EFD’s challan. Chittagong Customs Excise and VAT Commissionerate Syed Mushfiqur Rahman said that 1 thousand 639 EFDs have been installed in Chattogram so far. Installation of another 1,000 EFD machines is in progress.