NBR to install EFD in all jewellery shops to enhance revenue collection

Business Report :

The National Board of Revenue (NBR) has taken a move to install electronic fiscal device (EFD) all jewellery shops across the country, aiming to enhance the revenue collection from this sector.
At the initial stage the EFD will be installed in all jewellery shops in Dhaka, Narayanganj, Narsingdi, Munshiganj, Manikganj, Savar, Gazipur, Mymensingh, Netrakona, Kishoreganj, Sherpur, Tangail, Jamalpur, Chattogram, Cox’s Bazar, Bandarban, Khagrachhar and Rangamati districts soon.
The National Board of Revenue issued a letter in this regard on Sunday.
The revenue collecting authority held a meeting with the leaders of the Bangladesh Jewellers Association (Bajus) on January 7 at the NBR regarding the establishment of EFD.
Association leaders raised various problems in the jewellery sector, reports UNB.
Some of the problems were related to VAT, baggage rules, gold import, etc.
They informed that there are still many institutions in the jewellery sector which are not registered under VAT.
The leaders said that by registering unregistered institutions, establishing EFD in all institutions, and solving other problems in this sector in a reasonable and fair manner, the government’s revenue collection will increase and this sector will flourish.