Pakistan Revenue
KARACHI: The Federal Board of Revenue (FBR) has initiated action against big retailers by posting tax officials at business premises for monitoring of sales. Corporate Tax Office (CTO) Karachi, an arm of the FBR, has posted its staff at eight outlets of a big retailer for checking sales, purchase and production of saleable goods. The […]
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In a determined move to enforce compliance with the newly introduced Point of Sale (POS) integration system, a tax office of the Federal Board of Revenue (FBR) has taken stringent measures by sealing three retail shops in Karachi for failing to install POS machines.
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The Federal Board of Revenue (FBR) took a decisive step on Tuesday by releasing a list comprising 6,763 retailers who have yet to integrate their point of sale (POS) systems with the tax system.
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The Federal Board of Revenue (FBR) has redefined Tier-1 retailers, making it mandatory for them to integrate sales data on a real-time basis.
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ISLAMABAD: Federal Board of Revenue (FBR) has constituted central committee and regional committees to oversee the integration of Tier-I retailers with the FBR system. The FBR said that in pursuance of the Memorandum of Understanding (MOU) signed between the FBR and the Chainstore Association of Pakistan (CAP) on October 28, 2020, a central committee and […]
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The term ‘Tier-1 retailer’ was introduced through Finance Act, 2017 by inserting relevant clause into Sales Tax Act, 1990. All Tier-1 retailers are required to integrate all their Point of Sales (POSs) with computerized system of the Federal Board of Revenue (FBR). The Sales Tax Act, 1990 (updated up to June 30, 2020 issued by […]
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ISLAMABAD: Federal Board of Revenue (FBR) has issued updated list of Tier-1 retailers, who have integrated their Point of Sales (POS) with the online system of the tax authorities. Only a customer of Tier-1 retailer is eligible to get cash back of five percent sales tax out of total amount of sales tax paid at […]
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ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday issued procedure for cash back five percent sales tax to customers, which is paid at the time of payment to Tier-1 retailers. The FBR issued SRO 1339(I)/2020 dated December 16, 2020 to make amendment in Sales Tax Rules, 2006. Following is the procedure for payment of five […]
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ISLAMABAD: Big retailers with chain stores have agreed to install Point of Sale (POS) at their outlets to integrate sales and purchase with online system of Federal Board of Revenue (FBR). In this regard a Memorandum of Understanding (MoU) was signed between the FBR and Chain Stores Association of Pakistan (CAP) to ensure effective and […]
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ISLAMABAD: Federal Board of Revenue (FBR) has made it mandatory for food outlets to display tax amount along with retail price in menus. The FBR on Wednesday issued SRO 353(I)/2020 to make it mandatory for all the restaurants, bakeries, caterers and sweetmeat shops supplying prepared foods, foodstuff and sweetmeat to show prices and amount of […]
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