EFDMS launched to boost VAT collection

EFDMS launched to boost VAT collection

The National Board of Revenue (NBR) today officially launched the Electronic Fiscal Device Management System (EFDMS) in a significant step towards enhancing transparency and expediting revenue collection in the country.
Private firm Genex Infosys Limited will oversee the implementation of this system across diverse business establishments, serving as a pivotal support for VAT collection within commercial enterprises.
The initial deployment of devices in Dhaka and Chattogram will enable seamless VAT collection from customers, alongside efficient storage and management. This endeavor will also streamline VAT returns for entrepreneurs. Notably, the system has been seamlessly integrated into NBR servers, facilitating direct oversight of VAT payments and collections.
The formal inauguration of the EFDMS was held today at the National Board of Revenue (NBR) Building in the capital Agargaon area.