NBR to install 3 lakh EFDs in next 3 years

The National Board of Revenue (NBR) is going to install three lakh Electronic Fiscal Devices (EFDs) at retail and wholesale stores through third party in order to collect Value-Added Tax (VAT) from stores.

The EFDs, e-cash registers devices, will be installed in Dhaka and Chattogram over the next three years by Genex Infosys Ltd on behalf of the revenue administration, according to a decision of the cabinet committee on purchase taken yesterday.

The government will pay Tk 0.52 and Tk 0.53 as commission per Tk 100 transaction through the EFDs to the Genex, Md Abdul Barik, additional secretary to the cabinet division, told journalists after the meeting.