LTO Karachi facilitates Tier-1 retailers in POS integration

Feb 16

Taxation

LTO Karachi facilitates Tier-1 retailers in POS integration

KARACHI: Large Taxpayers Office (LTO) Karachi has facilitated Tier-1 retailers to resolve issues in installation of Point of Sale (POS), a statement said on Wednesday. In this regard the LTO Karachi established a fully automated, computerized and equipped with modern communication devices control room in order to implement POS Scheme announced by the Federal Board […]

by Faisal Shahnawaz

FBR announces prize winners in second POS invoice balloting

Feb 15

Taxation

FBR announces prize winners in second POS invoice balloting

ISLAMABAD: The Federal Board of Revenue (FBR) on Tuesday announced winners of second balloting of invoices issued by Point of Sales (POS) installed by Tier-1 retailers. Muhammad Aslam has been declared as winner of bumper prize worth Rs1 million in the second draw. The invoice declared for the bumper prize was issued by Tier-1 retailer […]

by Mrs. Anjum Shahnawaz

Tax offices fail to meet target of integrating retailers

Feb 13

Taxation, Top stories

Tax offices fail to meet target of integrating retailers

ISLAMABAD: The Federal Board of Revenue (FBR) has expressed annoyance over the lack of interest shown by field offices in integrating Point of Sale (POS) of Tier-1 retailers with the online tax system. According to an official document related to Tier-1 Retailers POS Integration – Third Quarter Targets (January 2022), the analyses revealed except for […]

by Mrs. Anjum Shahnawaz

FBR issues list of 1,358 retailers for mandatory POS

Feb 5

Taxation, Top stories

FBR issues list of 1,358 retailers for mandatory POS

ISLAMABAD: The Federal Board of Revenue (FBR) has notified a list of 1,358 retailers for mandatory installation of Point of Sale (POS) and integrate the same with the tax system. The FBR on Friday issued the list of 1,358 retailers by notifying Sales Tax General Order (STGO) No. 9 of 2022 dated February 04, 2022. […]

by Mrs. Anjum Shahnawaz

POS retailers to get refunds automatically: Tariq Mustafa

Feb 3

Taxation, Trade & Industry

POS retailers to get refunds automatically: Tariq Mustafa

KARACHI: Tariq Mustafa Khan, Chief Commissioner Inland Revenue, Regional Tax Office (RTO) Karachi has said that retailers who installed Point of Sales (POS) will gain refunds automatically. “The retailers will also not subject to audit,” he said while speaking with office bearers of Karachi Chamber of Commerce and Industry (KCCI) on Thursday. “POS, which was […]

by Faisal Shahnawaz

All shopkeepers to install POS machines: CTO Chief

Feb 1

Taxation, Top stories, Trade & Industry

All shopkeepers to install POS machines: CTO Chief

KARACHI: Dr. Aftab Imam, Chief Commission Inland Revenue, Corporate Tax Office (CTO) Karachi on Tuesday said that installation o Point of Sale (POS) machines to be extended to all types of shopkeepers. Although installation of Point of Sales (POS) machines is currently mandatory for bigger stores/ shops falling under Tier-1 retailers. “But eventually, every shopkeeper […]

by Faisal Shahnawaz

FBR identifies 1,284 retailers for POS integration

Jan 5

Taxation, Top stories

FBR identifies 1,284 retailers for POS integration

ISLAMABAD: The Federal Board of Revenue (FBR) has identified 1,284 retailers for force them to integrate Point of Sale (POS) with the tax system.

by Mrs. Anjum Shahnawaz

FBR deputes officials at jewelry shop for tax monitoring

Dec 28

Taxation, Top stories

FBR deputes officials at jewelry shop for tax monitoring

ISLAMABAD: The Federal Board of Revenue (FBR) has deputed officials of Inland Revenue (IR) at a jewelry shop on suspects of underreporting and non-compliance of integration. The FBR invoked Section 40B of the Sales Tax Act, 1990, and deputed tax officials at a retail outlet of a leading jeweler in Lahore. The FBR issued orders […]

by Mrs. Anjum Shahnawaz

FBR to distribute prizes worth Rs53 million every month

Dec 14

Taxation, Top stories

FBR to distribute prizes worth Rs53 million every month

ISLAMABAD: The Federal Board of Revenue (FBR) will distribute prizes worth Rs53 million every month. The first lucky draw will be held on January 15, 2022. The FBR will distribute the prizes to 1,007 winners. The said prize scheme was introduced through Finance Act-2021 which was followed by issuance of rules for the prize scheme […]

by Mrs. Anjum Shahnawaz

FBR decides penal action against defaulting retailers

Dec 13

Taxation, Top stories

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 […]

by Mrs. Anjum Shahnawaz