ISLAMABAD: The Federal Board of Revenue (FBR) may withdraw the condition of providing details of Computerized National Identity Card (CNIC) in case payment made through digital means.
The Finance (Supplementary) Bill, 2021 proposed to waive the condition of CNIC and NTN where payment has been made through debit card, debit card or other digital modes.
READ MORE: Retailers share CNICs of consumers with FBR
PwC A. F. Ferguson & Co. in their memorandum on the bill stated that sales tax law requires every registered person while making sales to unregistered person to provide CNIC or NTN of unregistered buyer except where supplies are made by a retailer involving transaction value not exceeding Rs 100,000.
READ MORE: People urged to use CNICs for heavy amount transactions
The Bill proposes to waive the condition of providing CNIC in such cases where payment is made through debit or credit card or digital mode.
It is presently provided that where CNIC provided by buyer is not correct, liability of tax or penalty would not arise against the seller in case of sale made in good faith.
READ MORE: FBR urged to remove CNIC condition on sales up to Rs100,000 by distributors
The Bill proposes to withdraw the said provision, which may result in unwarranted action against the seller and litigation (as sellers are generally unable to verify the CNIC provided by buyer).
