NBR collects Tk30cr through EFD in Oct

The National Board of Revenue (NBR) collected Tk 30.32 crore in October through value-added tax (VAT) machines installed in various retail outlets in Dhaka and Chattogram.

The earnings came through 7,832 Electronic Fiscal Devices (EFDs) and Sales Data Controllers (SDCs) installed in five  commissionerates of VAT in the districts.

NBR revealed the data at the Electronic Fiscal Device Management System (EFDMS) lottery programme held at the conference room of its headquarters in the capital on Sunday.

“The popularity of EFD machines is gradually increasing,” said Moinul Khan, member of NBR, on the occasion.

“We believe that radical changes have come in this sector,” he said, adding that the sector will see long-term success in revenue collection once three lakhs more EFDs are installed in the capital and the port city.

NBR, on November 3 signed a deal with Genex Infosys Limited to install 3 lakh VAT collection machines at retail shops in Dhaka and Chattogram within 5 years.

During the signing ceremony Moinul had said an additional Tk 200 billion will be annually collected from the retail businesses once the new VAT machines are installed.

Meanwhile, on Sunday’s programme, NBR held a draw of its 22st lottery of the EFD-generated invoices against purchases made by consumers throughout September. The first and second winners, who were not named, received Tk 1 lakh and Tk 50,000, respectively, as prize money.

Besides, five consumers were awarded Tk 25,000 each as the third prize, while 94 others won the fourth prize worth Tk 10,000 each.

The lottery draw is held every month based on the previous month’s challans. NBR Chairman Abu Hena Md Rahmatul Muneem inaugurated the EFDMS on August 25, 2019. Later, on February 5, 2020, the revenue board started the lottery system for the first time to motivate customers to provide VAT through EFD machines.