POS retailers to collect Re1 as service charge: FBR

POS retailers to collect Re1 as service charge: FBR

ISLAMABAD: Federal Board of Revenue (FBR) has said that only one rupee will be collected by retailers of Point of Sale (POS) as service charge on the total amount of each invoice.

The FBR strongly rebutted the malicious disinformation campaign being spread on social media against the proposed Service Charge of Re1 to be collected on all invoices issued by Tier-1 Retailers integrated with FBR’s electronic system of real-time reporting of sales.

It is being insinuated as if the rate of the Service Charge is 1 percent instead of Rupee 1 per invoice only. “This is completely baseless and untrue.”

The nominal Service Charge @ Re. 1 per invoice of whatever denomination, would be collected under section 76 of the Sales Tax Act, 1990, and utilized to promote the integration of all Tier-1 Retailers, launch publicity campaign, and finance a special prize scheme for all customers who duly verify their invoices to determine the validity and genuineness of the invoices issued by the integrated Tier-1 Retailers, FBR added.

The malicious campaign appears to have been initiated by the vested interests who oppose POS integration, and those who continue to collect Sales Tax from the general public but do not deposit it with the Government Treasury.

FBR has re-affirmed its resolve to continue integrating Tier-1 Retailers across the country with vigor. 

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