Tier-I Archives - Page 5 of 6

FBR posts officials at retail outlets for sales monitoring

August 11, 2021August 11, 2021Mrs. Anjum Shahnawaz

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 […]

CTO Karachi seals three retail shops on POS failure

August 10, 2021January 7, 2024Hamza Shahnawaz

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.

FBR issues list of 6,763 non-integrated retailers

August 3, 2021January 6, 2024Faisal Shahnawaz

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.

FBR redefines Tier-1 retailers for integration

July 26, 2021January 8, 2024Mrs. Anjum Shahnawaz

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.

FBR constitutes committees for integration of Tier-I retailers

March 13, 2021March 13, 2021Mrs. Anjum Shahnawaz

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 […]

Who are Tier-1 retailers under Sales Tax Act?

February 10, 2021February 10, 2021Mrs. Anjum Shahnawaz

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 […]

Cash back to customers: FBR issues list of integrated retailers

December 17, 2020December 17, 2020Mrs. Anjum Shahnawaz

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 […]

FBR issues procedure for cash back to customers of Tier-1 retailers

December 16, 2020December 16, 2020Mrs. Anjum Shahnawaz

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 […]

Chain stores sign MoU to integrate with FBR’s online system

October 29, 2020October 29, 2020Mrs. Anjum Shahnawaz

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 […]

FBR orders food outlets to display tax amount

May 6, 2020May 6, 2020Faisal Shahnawaz

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 […]

Tag: Tier-I