The Federal Board of Revenue (SBR) will launch an automated ‘Point of Sale’ (POS) system for all mega retailer outlets and shopping malls to bring them into registration in order to avoid tax evasion, stated in a tweet by Chairman FBR Shabbar Zaidi.
The computerized machines will be installed at mega retail stores and shopping malls that will be linked with the FBR in, all Tier – I retailers shall integrate their outlets with Board’s computerized system for real- time reporting of sales in then mode and manner as prescribed .
FBR had introduced ‘Electronic Invoice System’ for restaurants, cafes, coffee shops, eateries, snack bars, and hotels, and directed them to install the board’s approved fiscal electronic device/software and register all their branches and each point of sale (POS) with FBR’s computerized system.
The integrated supplier who is found to have tampered with the system would no more be eligible for reduced rate, if otherwise applicable, and his input tax shall also be reduced, FBR added
In the past all efforts made by the FBR have failed to fetch the desired results so this time technology would be utilized to expand the narrowed tax base by bringing retailers into tax net.
The trials of Electronic Point of Sale integration with FBR has already been completed successfully. More than 50 top retailers in Pakistan will have their point of sale terminals linked to FBR systems within 45 days. FBR also plans to come up with a gift scheme for customers through balloting who will get computerized receipts of purchases through the installed machines.
