Booking overseas link
Booking overseas link

Category

Lahore: The Federal Board of Revenue (FBR) has issued compliance notices to 200 Tier-1 retailers to register with the Point of Sale (POS) integration system, according to news published.

Read: No extension in income tax return last date: FBR

As per the details, FBR has made it mandatory for tier-1 retail outlets of textile, sports, and leather goods to register with the POS integration system. It was also mentioned that penalties, ranging from PKR 0.5 million to PKR 2 million, have been imposed on the retailers who have ignored the previously served notices. If the retailers still fail to register, the next step would be to seal their outlets.

According to the commissioner, retailers have failed to register because of a lack of awareness about the POS system. Additional Commissioner stated that a campaign has been launched to spread awareness.

Read: FBR presents system to document sales of big retailers

He further added that incentives are being offered such as permission to charge PKR 1 per invoice from consumers in order to meet the service charges and decreased tax rate of 7% to motivate retailers to register.

Moreover, the board has approved 40 vendors for the installation of a POS integration system at the retail outlets. The additional commissioner mentioned that FBR focuses on encouraging registration through awareness rather than imposing penalties.

For more updates, stay tuned to Sky Marketing News!

 

Head Office

2nd Floor AA Plaza
Jinnah Avenue ,Blue Area, Islamabad

(051) 848-7777

Regional Office

Office No. 2, First Floor Block C,
JB Tower, University Road
Peshawar, Pakistan

(091) 7257777

Office No. 3, 2nd Floor Mega Tower 63b,
Main Boulevard Gulberg 2 Near McDonald’s Lahore, Punjab, Pakistan

(042) 35777453

Skymarketing, Plaza 88,
Civic Centre, Phase 4,
Bahria Town, Rawalpindi

Plot 124, Model Town B
Block B Model Town,
Multan, Punjab

info@skymarketing.com.pk

Complaint

complaint@skymarketing.com.pk

Chat via WhatsApp
Copy link
Powered by Social Snap