Islamabad: The Federal Board of Revenue (FBR) has introduced a new feature on its website that allows buyers to verify invoices or bills issued by businesses and service providers in real time. The initiative, announced through a recent FBR notification, aims to enhance transparency and strengthen compliance with tax regulations.
The feature enables buyers to confirm whether invoices issued by integrated enterprises have been submitted to the FBR’s computerized system. This step is part of the authority’s ongoing efforts to streamline the e-invoicing process and improve accountability in business transactions.
Under the new framework, businesses and professionals are required to issue real-time, verifiable electronic invoices or bills for every taxable supply or service. These electronic records must be retained for six years in accordance with Section 174 of the Income Tax Ordinance.
The notification also mandates that debit and credit notes be generated electronically through the integrated system and stored for the same period. For online sales, including transactions through digital marketplaces, invoices will be automatically created and maintained for six years.
The FBR said the measure is part of its broader strategy to integrate e-invoicing with the income tax system, enhancing transparency, reducing errors, and ensuring accurate reporting of business transactions across Pakistan.
Samra Zulfiqar, a real estate analyst at Zameen.com, is passionate about finding projects that offer buyers the best returns. Her keen insights spotlight the market’s most promising opportunities.
