FBR decides penal action against defaulting retailers

FBR decides penal action against defaulting retailers

ISLAMABAD: Federal Board of Revenue (FBR) has decided to take all penal action and launch prosecution against defaulting Tier-1 retailers.

In this regard an important meeting was held recently in the FBR headquarter. The meeting was headed by Member Federal Board of Revenue (IR-Operations), Qaiser Iqbal meeting with the top leadership of FBR Field Formations through video link facility.

READ MORE: FBR redefines Tier-1 retailers for integration

He reaffirmed his commitment to continue with integration of eligible Tier-1 retailers with full force and vigor.

He conveyed the unflinching resolve of Adviser to the Prime Minister on Finance and Revenue, Shaukat Tarin with the directions that the largest 500 retailers be fully integrated in the first phase, followed by next 500 and so on.

The prize Scheme launched by FBR on both Print and Electronic Media was also discussed in details.

READ MORE: FBR announces first POS prize scheme draw on Jan 15

He directed the Field Formations to ensure its proper promotion and ensure that the Tier-1 retailers update all their branches on Goolge to facilitate their customers.

Qaiser Iqbal also stressed upon effective enforcement measures for ensuring true and accurate reporting of sales by Tier-1 integrated retailers.

READ MORE: Who are Tier-1 retailers under Sales Tax Act? PkRevenue.com

He emphasized upon adopting all penal and prosecution measures against defaulting Tier-1 retailers on account of non-integration and those involved in tax fraud of any shade or grade.

He also hoped that Team Inland Revenue would spare no effort nor energy to make this innovative campaign on POS a true success story which promises a significant increase in tax revenue.

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