Pakistan Revenue
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 […]
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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 […]
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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 […]
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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 […]
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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 […]
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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 […]
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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 […]
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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 […]
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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.
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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.
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