FBR Chairman launches another initiative to boost tax collection in the country: Report

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FBR Chairman launches another initiative to boost tax collection in the country: Report

ISLAMABAD - Federal Board of Revenue Chairman launches another initiative to boost tax collection in the country.

Chairman Shabbar Zaidi has announced that the board will launch an automated ‘Point of Sale’ for all large retailers next month.

In a tweet Shabbar Zaidi said,

FBR will launch an automated ‘Point of Sale’ (POS) for all large retailers from next month. All largescale retailers are suggested to integrate with the system. This will greatly assist such retailers as in such cases personal interaction with FBR will be minimized.

link Syed Shabbar Zaidi@ShabarZaidi link link

FBR will launch automated ‘Point of Sale’ (POS) for all large retailers from next month. All large scale retailers are suggested to integrate with the system. This will greatly assist such retailers as in such cases personal interaction with FBR will be minimised. A way forward. link

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FBR has directed all ‘Tier-I’ retailers to integrate their retail outlets with the board’s computerized system for reporting sales in real-time. According to the FBR from December 2019, all Tier-I retailers are required to integrate their retail outlets with the board’s computerized system for reporting sales in real-time.

According to the officials, the computerized machines will be installed at mega retail stores and shopping malls that will be linked with the FBR in order to avoid tax evasion.

FBR also plans to come up with a gift scheme for customers through balloting who will get computerized receipts of purchases through the installed machines.

FBR had introduced ‘Electronic Invoice System’ for restaurants, cafes, coffee shops, eateries, snack bars, and hotels, and directed them to install the board’s approved fiscal electronic device/software and register all their branches and each point of sale (POS) with FBR’s computerized system.

The trials of Electronic Point of Sale integration with FBR have already been completed successfully.