Electronic Fiscal Device Management Systems (EFDMS)

The Electronic Fiscal Device Management Systems (EFDMS) is a groundbreaking initiative that aims to capture and store the transaction data of retail and wholesale outlets in Bangladesh. With a planned rollout of 100,000 EFDs over the next five years, EFDMS will connect outlets to a central MIS via real-time secure data connectivity. This will enable VAT payers to verify that the government has been informed of their payments, while also allowing the government to identify and track VAT owed by outlets. As a result, the gap between collected and deposited VAT will be reduced, disputes will be resolved more quickly, and arrear collection and refund issuance will be expedited. In short, EFDMS is a powerful tool for improving the efficiency and transparency of the retail and wholesale sector in Bangladesh.