Senior Reporter: The National Board of Revenue (NBR) has not been able to provide Electronic Fiscal Device (EFD) even in one year of implementation of VAT Act. Despite this initiative to prevent VAT evasion and increase revenue collection, the supply of machines among traders has been suspended. Due to which the collection of VAT has fallen on deaf ears.
According to NBR sources, EFD was to be distributed among traders from March 16 as a gift for the year of Mujib. To this end, the Chinese company, which was hired to supply EFD, supplied more than 500 machines to NBRK. But with the onset of coronary heart disease, EFD supply has come to a standstill.
Although the time was extended in stages for the supply of EFD. And now the NBR is refraining from supplying machines to traders due to the increase in the incidence of corona.
The company says the business was closed during the general holiday. Although a limited number of businesses have been open since May 31, business is in a slump. Going to traders and distributing EFD machines is very risky in this situation. This is the main reason why EFD activities are pending.
Asked about this, Jamal Hossain, the member in charge of VAT implementation of the NBR, said, “We had completed all the preparations for the supply of EFD machines among the traders in March.” EFD distribution has come to a standstill due to the deadly corona virus, despite all preparations to distribute it among traders as a gift for the year of Mujib.
Initially, 500 EFD machines were supplied to large shopping malls in the capital for distribution. But he said that the activities came to a halt due to the outbreak of corona.
He added that the Chinese company that got the job of supplying EFD has left for China. Which has caused some slowdown. However, to control the outbreak of corona, we will actually take the initiative to distribute the machine.
He said that 1 lakh machines will be provided to the traders in phases once the distribution activities start.
In the budget for the current fiscal year 2020-21, the highest revenue collection target has been set for VAT among the three sectors of NBR. The provision of EFD machines in the new financial year has also been given importance in the national budget.
According to the NBR estimates, the target for the last financial year in May alone was Tk 10,060 crore, and Tk 6,752 crore has been collected. In other words, the deficit in a month is 4 thousand 106 crore rupees.
However, the NBR has not yet compiled the June account of the outgoing year. However, there will be a shortfall in the last month compared to the monthly target, said the concerned.