FBR updates, income tax, budgets and markets for Pakistan
8 articles
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…
Instructions issues by Chief Commissioner Regional Tax Office (RTO) Lahore Nasir Iqbal Khan for monitoring of sales of those Tier-1 Retailers (T-1Rs) who are resisting integration with Point of Sale (POS) system.…
The Corporate Tax Office (CTO) Lahore has imposed penalty of reducing adjustable input tax by 60% against 35 Tier-1 Retailers (T-1Rs) for their failure to integrate with Point of Sale (POS) system.…
A total of 1,572 big retailers have been integrated with the point of sales (POS) system of the Federal Board of Revenue (FBR). The Federal Board of Revenue (FBR) has issued a…
Federal Board of Revenue (FBR) on Tuesday said that the process of licensing the IT Service Providers for integration of Tier-1 retailers will take time. The FBR issued Rules for licensing of…
Tier-1 retailers allowed only to get cash back of 5% five percent sales tax paid at the time of purchases. (a) a unit of a national or international chain of stores; (b)…
POS system is a cloud based system. Needs a computer, an internet connection and a software downloaded from Pakistan Revenue Automation Private Limited (PRAL). Due to simple software, very few retailers taking…
MoU signed between Federal Board of Revenue and the Representatives of the ChainStores Association of Pakistan (CAP). To ensure effective and efficient integration of Point of Sales (PoS)/ tills. Installed at Tier…