To ensure deposition of VAT by traders outside district towns, the government has planned to make it mandatory for trading units outside the district towns to use Electronic Cash Register (ECR) and point of sale (POS) system.
Finance Minister AMA Muhith, in his budget speech in the parliament today, proposed to make the use of ECR and POS compulsory for the shops, hotels, resorts and other trading units located out of district towns.
Saying that there is no alternative to widen the net of VAT for augmentation of domestic revenue for the people, finance minister said: “All the units located within the territorial jurisdiction of Dhaka (South), Dhaka (North) and Chittagong city corporation area and are engaged in manufacturing taxable goods will be mandatorily brought under the VAT regime irrespective of their turnover.”
Presently, there is a requirement for shops, hotels, resorts and some other units located in the district towns to use ECR and POS system.
“In order to ensure that the VAT paid by the consumers are correctly deposited into the Government treasury, I am proposing to make it compulsory for the shops, hotels, resorts and other trading units to use ECR and POS located out of district town,” said the minister.