Al Amin :
The national revenue board is now planning to purchase services from private vendors instead of directly installing Electronic Fiscal Devices (EFDs) to make revenue collection sustainable through the devices.
It wants to appoint third-parties through Quality and Cost Based Selection (QCBS) method to ensure transparency and accountability.
The NBR has introduced the system to seal loopholes of Value-Added Tax (VAT) evasion and also to assist in improvement on revenue compliance.
The EFD system is effectively comply with all legal requirements, keeps and shares proper and correct information with the revenue administrations and thus minimize compliance and tax risks.
But the installation of the EFDs or SDCs at most of the business entities is a matter of time as well as costly.
On the other hand, traders have already expressed their dissatisfaction over the system and are unwilling to pay Value-Added Tax (VAT) as the system is creating discrimination among them.
NBR has installed only 6000 EFDs so far against thousands of retail stores across the country, according to the sources.
In this situation, NBR is searching ways how to make the system a sustainable one by installing EFDs at large section of the retailers within the earliest possible time without purchasing the devices.
The revenue board formed an eight-member committee headed by Md Anwar Hossain, System Manager of the NBR, to scrutinizing the matter.
Scrutinizing the demonstration of the different vendors, the committee recommended the Quality and Cost Based Selection (QCBS) method in selecting service provider.
Anwar Hossain told The New Nation on Monday “Analyzing overall situation, we have recommended the authority to appoint third-parties to bring pace in installing the EFDs within shortest possible time.”
Appointment of third-parties in installing the devices on commission basis will reduce time and cost, he said.
If the Finance Ministry approved it, NBR will take action, he added.
The NBR aims to install the EFDs at the stores that register more than Tk 50 lakh in turnover annually.
Businesses ranging from hospitality and sweetmeat stores to clothing, furniture and electronics outlets will get the devices free of cost.
The number of small and medium retail stores is too high for them to monitor due to a shortage of manpower.
Most of the taxpayers in the category are noncompliant and various complaints are raised from this trade against revenue collectors.
Against the backdrop, the EFDs that will be connected to a central server to monitor real-time transaction and store sales data of retails will be instrumental in collecting the actual amount of VAT and curbing evasion.
