Outsourcing firm Genex Infosys to facilitate 3 lakh Vat collecting machines

Genex Infosys Limited, a leading outsourcing firm, will facilitate installing 3 lakh Vat collecting machines in Dhaka city, adjoining areas and Chattogram city in the next three years.

Genex Infosys got selected as a vendor to collect value-added tax (Vat) on behalf of the government, which was approved by the Cabinet Committee on Government Purchase (CCGP), at a virtual meeting on Wednesday.

Finance Minister AHM Mustafa Kamal presided over the virtual meeting where CCGP members were also present.

Genex Infosys was selected through an open tender, said Additional Secretary of the Cabinet Division Abdul Barik while briefing on the decisions of the committee.

He also mentioned that Genex as the lowest bidder won the contract in three lots to supply and install Electronic Fiscal Device (EFD) and Sales Data Controller (SDC) or Vat collecting machines at different types of retail shops.

Earlier, the Cabinet Committee on Economic Affairs gave its nod in principle to this decision of the National Board of Revenue (NBR) on 31 August.

Abdul Barik said the vendor will supply and install the machines at its own cost and it will get 0.52%-0.538% of the collected money as a service charge in return while depositing it to the government.

It will also carry out the operation and maintenance work as well, he added.

According to NBR officials, it's not possible for the government to operate so many machines across the country, that's why service outsourcing is being done.

Although the installation operation of EFD machines started two years ago, the progress is somewhat slow.