Tuesday, 4 October 2022
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TAXATION

FBR directed the Integration of Big Retailers with POS System

FBR directed the Integration of Big Retailers with POS System

FBR directed the Integration of Big Retailers with the POS System. The Federal Board of Revenue (FBR) on Tuesday directed the chief commissioners of the Regional Tax Offices (RTOs) to take steps to enhance the number of big retailers’ integration with the FBR’s point of sale (POS) invoicing system.

Current Progress of POS Scheme and Integration

FBR Chairman Mr. Asim Ahmad analyzed the integration status of the retailers with the POS system. He was interacting with the chief commissioners of the RTOs over video conferencing.

The Chief Commissioner informed that the POS scheme and integration of top Tier-1 retailers are successfully progressing. They further informed that the number of invoices verification and retailers integration is increasing every month.

List of Non-integrated Tier-1 Retailers

The FBR issued via Sales Tax General Order (STGO) 3 of 2022, a list of 81 unregistered retailers (Tier-1), and required them to be integrated with the FBR’s POS system. Integration of these 81 identified retailers will enhance the documented regime and depositing of collected sales tax from consumers into the national exchequer.

Tier 1 Retailers integration with point of sales software. FBR directed the Integration of Big Retailers with POS System.

Disallow of 60percent Input Tax Credit

Out of the last month’s list of 114 big retailers (Tier-1), which are required to integrate with the FBR’s POS system, refused 60percent input tax credit on the issue of non-integration, and now there are 81.

According to media news, FBR decided to charge sales tax demand against these big retailers (Tier-1). Who still required to integrate with the FBR’s POS system by the deadline of September 10, 2022.

Along with the above action of FBR, non-integrated retailers will also face the disallowance of an input tax credit.

Procedure of exclusion from this list of identified Tier-I

If big retailers want to follow the procedure of exclusion from this list of non-integrated Tier-I. Then may follow the guidelines as provided in STGO 17 of 2022 dated May 13, 2022, the FBR further added.

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