NBR plans lottery incentive for consumers against VAT receipts

Staff Correspondent | Published: 00:00, Jan 28,2020

 
 

The National Board of Revenue will arrange lottery for consumers to create awareness among them about receiving electronically generated VAT invoice through electronic fiscal device (EFD) under the VAT online system.

The lottery will be conducted once in every two months and a total of 20 winners among the registered consumers will receive prize bond worth Tk 2.25 lakh, according to the plan of the revenue board.

The first prize of the lottery would be prize bonds worth Tk 50,000 and the second, third, fourth and fifth prizes would be Tk 40,000, Tk 30,000, Tk 20,000 and Tk 10,000 respectively.

The prize money of the next 15 winners would be Tk 5,000 each.

Officials said that the NBR made the decision to encourage consumers through financial incentive so that they received EFD-generated invoice against their purchase of goods and services from traders.

The programme would motivate consumers to ask traders for invoice, which would also ensure VAT collection from the sector, they said.

The VAT Online Project has already prepared a draft of the lottery policy under the EFD Management System and submitted it to the VAT policy wing of the NBR for finalisation.

They said that the revenue board would start installation of EFDs at shops from next month (February).

Initially, the devices would be installed at 100 shops in Dhaka and Chattogram, they said.

According to the draft policy, a consumer would have to register his or her invoice number to the online system of the revenue board to make their invoice with approval code and QR code printed on it eligible for the lottery.

The registration process could be completed through scanning of QR code from mobile set or entering the approval code and mobile number of consumers to the NBR web portal, it said.

The lottery would be conducted only on registered invoices and mobile numbers and the result would be published on the NBR’s web site.

Winners would also be informed about winning of the lottery through text message on mobile.

Officials said that the government had allocated Tk 3 crore for lottery purpose to build awareness among consumers about the EFD under the VOP.

They said that the VOP would be able to conduct the lottery with the fund until December 31, 2020, the date of expiry of the project.

The VOP in a letter to the NBR said that the tax authorities would have made new allocation to continue the programme.

The revenue board has so far made the use of EFD or point of sales (POS) software mandatory for 25 types of shops and service providers to ensure proper VAT collection from the sectors through ensuing accurate records of transactions and sales.

The NBR was supposed to start installation of the devices from July last year. Missing other two deadlines, it now eyes starting the process from early February.

The shops and service providers that have been brought under the mandatory use of the EFDs or POS include residential hotels, restaurants, sweetmeat shops, furniture shops, clothing stores, electronic or electrical household items sales stores, super shops and jewellery shops.

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