- VAT collection has increased after the installation of Electronic Fiscal Device (EFD) machines.
- The average VAT collection per EFD machine is now Taka 50,000 per month, compared to Taka 4,000 to Taka 5,000 before.
- Transparency in VAT collection has also improved with the use of EFD machines.
- A total of 18,000 EFD machines have been installed so far, with plans to install 60,000 more in the current tax year.
- EFD machines are being installed in Dhaka and Chattogram, and if successful, will be installed at the district and upazila level.
- EFD machines provide effective methods for collecting VAT and prevent VAT evasion.
- Despite a decline in imports, VAT collection has increased by 17 percent due to strategies and prevention of VAT evasion.
- The NBR has taken initiatives to dispose of related cases quickly to increase VAT collection.
- The theme of this year’s VAT Day is “Amar VAT Ami Dibo, Kenar Somoy Chalan Nibo” to create awareness among people on VAT.
- The NBR chairman requests people to collect VAT invoices and purchase from shops with EFD machines.
- Around 38 percent of the government’s annual overall revenue collection comes from VAT.
Source: bangladeshpost.net
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
