Aug 15

FBR announces prize winners in eighth draw of POS invoices

ISLAMABAD: The Federal Board of Revenue (FBR) on Monday announced winners of eighth balloting of invoices issued through Point of Sale (POS) of retailers. According to the FBR, the bumper prize of Rs1,000,000 has been awarded to Muhammad Usama Shakeel on the invoice issued by Chase Up. READ MORE: FBR announces prize winners of 7th […]

by Anjum Shah

101 retailers given July 10 as deadline for integration

Jul 6

Taxation

101 retailers given July 10 as deadline for integration

ISLAMABAD: The Federal Board of Revenue (FBR) has issued a list of 101 retailers and directed them to integrate by July 10, 2022 otherwise action will be taken as per law. The FBR issued Sales Tax General Order (STGO) No. 1 of 2023 related to Tier-1 retailers for integration with FBR’s Point of Sale (POS) […]

by Anjum Shah

RTO-II Karachi seals Baklava Palace for integration failure

Jun 6

Taxation

RTO-II Karachi seals Baklava Palace for integration failure

KARACHI: Regional Tax Office (RTO) – II, Karachi on Monday sealed a sweet shop i.e. M/s. Baklava Palace for failure to mandatory integrate with online system. RTO – II, Karachi, an arm of the Federal Board of Revenue (FBR), while continuing its crackdown against non-compliant Tier-1 retailers, sealed the business premises of M/s. Baklava Palace, […]

by Faisal Shah

FBR issues list of 113 retailers for mandatory integration

Jun 5

Taxation, Top stories

FBR issues list of 113 retailers for mandatory integration

ISLAMABAD: The Federal Board of Revenue (FBR) has issued a list of 113 retailers and directed them to integrate by June 10, 2022 otherwise action will be taken as per law. The FBR issued Sales Tax General Order (STGO) No. 18 of 2022 related to Tier-1 retailers for integration with FBR’s Point of Sale (POS) […]

by Anjum Shah

RTO-II Karachi seals electronics shop for integration failure

Jun 4

Taxation

RTO-II Karachi seals electronics shop for integration failure

KARACHI: Regional Tax Office (RTO) – II, Karachi on Saturday sealed a shop of electronics goods for failure to mandatory integrate with online system. RTO – II, Karachi, an arm of the FBR, while continuing its crackdown against non-compliant Tier-1 retailers, sealed the business premises of M/s. Rafi Electronics located at Gulshan e Iqbal, Karachi. […]

by Faisal Shah

POS service fee issue hampers sales tax return filing

Apr 27

Taxation, Top stories

POS service fee issue hampers sales tax return filing

KARACHI: Karachi Tax Bar Association (KTBA) has raised the issue that taxpayers are unable to file sales tax return for the month of March 2022 as online system is denying taxpayers without payment of POS service fee. The KTBA in a letter sent to FBR chairman on Wednesday urged to take urgent note of the […]

by Faisal Shah

FBR announces prize winners of 4th POS invoice draw

Apr 15

Taxation, Top stories

FBR announces prize winners of 4th POS invoice draw

ISLAMABAD: The Federal Board of Revenue (FBR) on Friday conducted fourth draw of invoices issued through Point of Sales (POS) and announced prize winners. According to the computerized balloting, the bumper prize of Rs1,000,000 has been awarded to Muhammad Ali on the invoice issued by Carefour. READ MORE: FBR announces winners of third POS invoice […]

by Anjum Shah

FBR explains cash discount under sales tax laws

Mar 19

Taxation, Top stories

FBR explains cash discount under sales tax laws

ISLAMABAD: The Federal Board of Revenue (FBR) has explained cash discount related to invoices issued through Point of Sale (POS) by Tier-1 retailers. The FBR explained through an official note dated March 17, 2022 that cash discount has been allowed in the form of reduction of prices in seasonal sales / sales and the consideration […]

by Anjum Shah

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 Anjum Shah

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 Anjum Shah