FBR reminds large retailers to register with its invoice system

Deadline is August 31
Aug 18, 2020
Artwork: SAMAA Digital
Artwork: SAMAA Digital

The FBR has reminded all Tier-I (large-scale) retailers to register with its Point of Sale (linked invoicing system) by August 31.

Tier-I retailers are those who:

  • Have a network of chain stores across Pakistan
  • Are located in large, air-conditioned shopping malls or plazas
  • Have a cumulative electricity bill of over Rs1.2 million for the immediately preceding 12 consecutive months
  • Are engaged in the bulk import and supply of consumer goods on a wholesale basis to retailers as well as on a retail basis to consumers
  • Have a shop measuring 1,000 or more square-feet

If a retailer meets these conditions, they must integrate their retail outlets with the FBR’s computerized system for real time reporting of sales.

The FBR has warned that the last date for such integration is August 31 and afterwards those who failed to integrate will be subject to a Rs1 million penalty. If the offence continued, the business premises of such retailer will be sealed.

The POS system is an online real-time system to document sales. It directly sends any sales to the FBR’s online system, therefore preventing any chance of tax fraud.

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