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Dhaka Tribune

Muhith: Govt plans mandatory ECR use in shops from FY17

Update : 15 Jun 2016, 05:57 PM
The government considers making the use of electronic cash register machine in shops and other business units mandatory from next fiscal year under the new value added tax law, said Finance Minister AMA Muhith. “We plan to make use of ECR machine compulsory in shops and other businesses from next fiscal year under the new VAT law,” he said while talking with the newly elected officials of the Economic Reporters Forum (ERF) of Bangladesh yesterday. He also said the revenue collection would be boosted by implementing the new VAT law and expanding the VAT area to different businesses. Muhith ruled out the possibility of forming a Banking Commission this fiscal year “because of various circumstances.” He said the decision to introduce such commission would be made after having recommendations from the probe committee working into the $101m cyberheist from Bangladesh Bank reserves. Senior Finance Secretary Mahbub Ahmed, National Board of Revenue Chairman Md Nojibur Rahman and Economic Relations Division Senior Secretary Mohammad Mezbah Uddin were also present.
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