FBR redefines Tier-1 retailers for integration

FBR redefines Tier-1 retailers for integration

KARACHI: Federal Board of Revenue (FBR) has redefined Tier-1 retailers for integration of sales on real time basis.

The FBR issued Sales Tax Act, 1990 updated up to June 30, 2021. The updated statute incorporated changes brought through Finance Act, 2021.

It is mandatory for Tier-1 retailers to install Point of Sale (POS) for sharing details of sales on real-time basis.

According to revised definition, Tier-1 retailer means a retailer falling in any one or more of the following categories, namely:-

(a) a retailer operating as an unit of a national or international chain of stores;

(b) a retailer operating in an air-conditioned shopping mall, plaza or centre, excluding kiosks;

(c) a retailer whose cumulative electricity bill during the immediately preceding twelve consecutive months exceeds Rupees twelve hundred thousand;

(d) a wholesaler-cum-retailer, engaged in bulk import and supply of consumer goods on wholesale basis to the retailers as well as on retail basis to the general body of the consumers”;

(e) a retailer, whose shop measures one thousand square feet in area or more or two thousand square feet in area or more in the case of retailer of furniture;

(f) a retailer who has acquired point of sale for accepting payment through debit or credit cards from banking companies or any other digital payment service provider authorized by State Bank of Pakistan; and

(h) any other person or class of persons as prescribed by the Board.

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