NBR to install 10,000 e-fiscal devices by June

The National Board of Revenue (NBR) will install 10,000 electronic sales register machines at business entities by next June, said NBR Chairman Abu Hena Md Rahmatul Muneem.      

"The machines will also be installed at business enterprises outside of Dhaka and Chattogram to check VAT evasion at the retail and wholesale levels. We have taken huge preparation for a mass campaign in this regard," he told a lottery draw event in Dhaka on Friday.    

According to the revenue board's target, 3,000 machines will be installed by February, 4,000 by March and 10,000 by June this year.    

Through the lottery, the NBR, for the first time, rewarded 101 buyers who paid through electronic sales register machines after shopping in January.  

The shopping receipts were put as coupons in the lottery draw.  

While addressing the event as chief guest, the revenue board chairman said, "There had been distrust among the people for a long time about whether the money they were paying as VAT was being deposited to the state coffers. We too were uncomfortable with it for long."

"But the distrust has gone away since the e-fiscal devices were introduced," he added.

Rahmatul Muneem requested people to pay VAT sincerely so that they can make VAT payment easier.  

"Moreover, VAT rate will decrease automatically if the collection is higher," he commented.  

The revenue board chairman said manual VAT collection might not be so clear therefore the electronic devices have been introduced to ensure transparency.

The winner of the first prize got Tk1 lakh, while the second price was Tk50,000 and the five third prize winners got Tk25,000 each. The fourth prize was Tk10,000 to 94 individuals each. 

To receive the prizes, buyers will have to apply to any NBR commissionerate or department or circle in the prescribed form. The application must be submitted within the last working day of the month in which the lottery draw is held. Prize money will be given to the awardees by cheque.

The programme was told 117 e-fiscal devices were installed in the first phase after the inauguration on 25 August last year. In the second phase, 1,061 machines were installed while another 293 business entities had the devices installed in the third phase.