Islamabad: The Federal Board of Revenue (FBR) has revealed that customers that shop from tier-1 retailers that have been integrated with the board’s online system will receive a 5% cashback on the requisite sales tax, a news source reported on December 17. The cashback can be redeemed via FBR’s wallet account.
According to a notification shared by the FBR, an important amendment has been made in the Sales Tax Act, 1990 via the Finance Act, 2019 to sanction the aforementioned cashback facility. Reportedly, the board launched the procedure to introduce the cashback after one and a half years of introducing the law.
In order to avail the offer, customers are required to sign up for the Tax Asaan application available for smartphone users; this app allows users to create an FBR wallet account. According to the notified procedure, the system will automatically calculate the 5% amount of the sales tax paid as soon as the electronically generated invoice is verified.