FBR to issue new rules for bringing retailers in to registration
ISLAMABAD: FBR has decided to issue new rules for bringing mega retailers outlets and shopping malls into registration through point of sale system, The News reported.
The computerised machines will be installed at mega retail stores and shopping malls that will belinked with the FBR system in order to avoid tax evasion worth billions of rupees.
The FBR also plans to come up with gift scheme for those customers through balloting who will get computerised receipts of purchases through computerised installed machines.
At the first stage, the FBR plans to establish its linkages at point of sale at giant retailers and shopping malls located in posh areas.
The FBR plans targeting a few thousand mega retailers at luxurious shopping malls.
Keeping in view stalled economic activities, the FBR has decided to move slowly on condition of CNIC as in first stage only big retailers will be targeted by linking them at point of sale with the FBR system in order to maximize tax collection at retail stage.
In the past all efforts made by the FBR failed to fetch the desired results so this time technology would be utilised to expand the narrowed tax base by bringing retailers into tax net. The official explained that the FBR could not handle millions of retailers so the new rules going to be issued shortly would give clear message to the giants
The top officials said that giant retailers of textile sector would link their point of sale terminals with the online system of FBR. 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.
Presently, the FBR rules apply to supplies of finished fabric and locally manufactured finished articles of textile and textile made-ups and leather and artificial leather, as are made by the registered persons who are integrated with Board’s online system for the purpose of availing lower rate on supplies.
The integrated suppliers shall notify to the Board, through the computerised system, of all their outlets, hereinafter referred to as notified outlets, from which they intend to sell the supplies subject to lower rate as specified in the said condition and the integrated supplier shall register each point of sale (POS) to activate the integration.
The existing rules stated that no sale or supply from the notified outlets shall be made without being recorded by the duly accredited electronic fiscal device (EFD), which means a system composed of one Sale Data Controller (SDC) and at least one Point of Sale (POS) connected together, that has the specified characteristics and requirements. The POS shall print a clear and legible sales tax invoice for each transaction, copy of which shall be provided to the customer, containing the particulars.