{"id":58848,"date":"2019-12-19T16:34:15","date_gmt":"2019-12-19T16:34:15","guid":{"rendered":"https:\/\/www.zameen.com\/blog\/?p=58848"},"modified":"2020-01-28T06:01:08","modified_gmt":"2020-01-28T06:01:08","slug":"fbr-consider-fining-pos-non-complying-retailers","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/fbr-consider-fining-pos-non-complying-retailers.html","title":{"rendered":"FBR to consider fining POS non-complying retailers"},"content":{"rendered":"<p>Karachi: The Federal Board of Revenue (FBR) on Wednesday announced that it would consider enforcing penalties on large-scale retailers who failed to install automated point-of-sale (POS) systems at their outlets for real-time sales documentation, according to news sources.<\/p>\n<p>In case of non-compliance, the retailers will not be entitled to an adjustment of input tax and the adjustable input tax for the entire tax period will be decreased by 15%.<\/p>\n<p>The <a href=\"https:\/\/www.zameen.com\/news\/fbr-proposes-schemes-bring-retailers-into-tax-net.html\" target=\"_blank\" rel=\"noopener noreferrer\">top retailers \u2013 who fall under the tier-1 category<\/a> \u2013 might be subjected to monetary penalties if they fail to communicate their sales on the FBR\u2019s real-time software system. The defaulters might be subjected to a fine of PKR 5,000 or 3% of the tax amount, under the Sales Tax Act 1990.<\/p>\n<p><strong>Read:\u00a0<\/strong><a href=\"https:\/\/www.zameen.com\/news\/fbr-chairman-directs-commissioners-to-ensure-pos-implementation-by-december-25.html\" target=\"_blank\" rel=\"noopener noreferrer\">FBR shares deadline for nationwide POS implementation<\/a><\/p>\n<p>The source reported that the Regional Tax Office (RTO) Karachi issued notices to retailers (with around 500 outlets) of various products like jewellery, cosmetics, garments, footwear, and grocery, among others. These notices were sent when the retailers in question couldn\u2019t meet the December 16 deadline set for the installation of the automated POS system.<\/p>\n<p><strong>Read:\u00a0<\/strong><a href=\"https:\/\/www.zameen.com\/news\/fbr-prepares-fixed-tax-law-draft-shopkeepers.html\" target=\"_blank\" rel=\"noopener noreferrer\">FBR prepares &#8216;Fixed Tax&#8217; law draft for shopkeepers<\/a><\/p>\n<p>According to an RTO-II official, in order for retailers to link their sales register with the FBR, all they have to do is to install a simple software. The POS system is expected to help the tax authority in deterring cases of smuggling and ensuring people pay duties on various goods, as well as countering the different loopholes found in sales tax collection.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Karachi: The Federal Board of Revenue (FBR) on Wednesday announced that it would consider enforcing penalties on large-scale retailers who failed to install automated point-of-sale (POS) systems at their outlets for real-time sales documentation, according to news sources. In case of non-compliance, the retailers will not be entitled to an adjustment of input tax and the adjustable input tax for the entire tax period will be decreased by 15%. The top retailers \u2013 who fall under the tier-1 category \u2013 might be subjected to monetary penalties if they fail to communicate their sales on the FBR\u2019s real-time software system. The defaulters might be subjected to a fine of PKR 5,000 or 3% of the tax amount, under the Sales Tax Act 1990. Read:\u00a0FBR shares deadline for nationwide POS implementation The source reported that the Regional Tax Office (RTO) Karachi issued notices to retailers (with around 500 outlets) of various products like jewellery, cosmetics, garments, footwear, and grocery, among others. These notices were sent when the retailers in question couldn\u2019t meet the December 16 deadline set for the installation of the automated POS system. Read:\u00a0FBR prepares &#8216;Fixed Tax&#8217; law draft for shopkeepers According to an RTO-II official, in order for retailers&hellip;<\/p>\n","protected":false},"author":75,"featured_media":22258,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[14507],"persona":[],"class_list":{"0":"post-58848","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-details-on-fbr-to-consider-fining-pos-non-complying-retailers","9":"cat-15015-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FBR to consider fining POS non-complying retailers - Zameen News<\/title>\n<meta name=\"description\" content=\"Karachi: The Federal Board of Revenue (FBR) on Wednesday announced that it would consider enforcing penalties on large-scale retailers who failed to\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/fbr-consider-fining-pos-non-complying-retailers.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FBR to consider fining POS non-complying retailers - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Karachi: The Federal Board of Revenue (FBR) on Wednesday announced that it would consider enforcing penalties on large-scale retailers who failed to\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/fbr-consider-fining-pos-non-complying-retailers.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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