Dec 11

FBR announces first POS prize scheme draw on Jan 15

ISLAMABAD: Federal Board of Revenue (FBR) on Friday announced that the first balloting for prize money on invoices issued by retailers of Point of Sale (POS) will be held on January 15, 2022. The FBR said that thousands of prizes worth a hundred thousand rupees will be distributed every month to the winners after computerized […]

by Mrs. Anjum Shahnawaz

FBR identifies 482 retailers for POS integration

Dec 3

Taxation

FBR identifies 482 retailers for POS integration

ISLAMABAD: The Federal Board of Revenue (FBR) has identified 482 retailers for mandatory integration of Point of Sale (POS) with the tax online system for sharing sales in real-time. The FBR issued the list of 482 retailers by notifying Sales Tax General Order (STGO) No. 6 of 2022 dated December 03, 2021. The FBR said […]

by Mrs. Anjum Shahnawaz

Trade discount should be displayed on invoice: FBR

Oct 14

Taxation

Trade discount should be displayed on invoice: FBR

ISLAMABAD: The Federal Board of Revenue (FBR) on Thursday said that trade discount if any to be given by a retailer has to be depicted on the invoice horizontally i.e. from left to right The FBR on August 9, 2021 issued SRO 1006(I)/2021 and specified standardized format for sales tax invoice detailing minimum requirement for […]

by Mrs. Anjum Shahnawaz

POS installation offers reduced tax rates: LTO Karachi

Oct 6

Taxation, Trade & Industry

POS installation offers reduced tax rates: LTO Karachi

KARACHI: Officials of Large Taxpayers Office (LTO) Karachi have apprised the business community that installation of Point of Sale (POS) offered reduced rate of sales tax. A team of tax officials from Large Tax Office (LTO) Karachi visited Pakistan Business Council (PBC) on Wednesday to discuss the integration of Tier-1 retailers, a statement said on […]

by Mrs. Anjum Shahnawaz

FBR issues list of 1136 retailers for POS integration

Oct 5

Taxation

FBR issues list of 1136 retailers for POS integration

ISLAMABAD: Federal Board of Revenue (FBR) has issued a list of 1136 big retailers for mandatory installation of Point of Sale (POS). The FBR issued Sales Tax General Order (STGO) No. 3 of 2022 on Tuesday. The FBR said that through Finance Act, 2019 added a sub-section (6) to Section 8B of the Sales Tax […]

by Faisal Shahnawaz

KTBA suggests measures for successful POS integration

Oct 2

Taxation

KTBA suggests measures for successful POS integration

KARACHI: Karachi Tax Bar Association (KTBA) on Friday suggested measures for successful integration of Point of Sales (POS). One of the suggestions included that the Federal Board of Revenue (FBR) should launch a mass scale awareness program for integration in order to avoid resistance from the business community. KTBA President Muhammad Zeeshan Merchant said that […]

by Faisal Shahnawaz

FBR imposes service charges on POS invoices

Oct 1

Taxation

FBR imposes service charges on POS invoices

ISLAMABAD: Federal Board of Revenue (FBR) on Friday imposed service charges on invoices issued through Point of Sales (POS) that are integrated with the FBR system.

by Hamza Shahnawaz

Tier-1 retailers given deadline for integration

Sep 6

Taxation

Tier-1 retailers given deadline for integration

The Federal Board of Revenue (FBR) has issued a directive to Tier-1 retailers, urging them to integrate with the FBR’s Point of Sale (POS) System by the stipulated deadline to avoid the denial of input tax credit.

by Hamza Shahnawaz

POS retailers to collect Re1 as service charge: FBR

Sep 5

Taxation

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 […]

by Mrs. Anjum Shahnawaz

IREN empowered petrol retail outlets to check evasion

Aug 25

Taxation

IREN empowered petrol retail outlets to check evasion

ISLAMABAD: The Federal Board of Revenue (FBR) on Tuesday authorized Inland Revenue Enforcement Network (IREN) to petrol the retail outlets to check sales tax evasion. The FBR issued SRO 1063(I)/2021 to amend Sales Tax Rules, 2006. Through the rules, the FBR established IREN and authorized the body to check and verify any of the eventualities. […]

by Mrs. Anjum Shahnawaz