{"id":60802,"date":"2020-02-02T13:10:47","date_gmt":"2020-02-02T13:10:47","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=60802"},"modified":"2020-02-02T13:10:48","modified_gmt":"2020-02-02T13:10:48","slug":"286-retailers-integrated-fbr-sales-tax-invoices-reporting","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/286-retailers-integrated-fbr-sales-tax-invoices-reporting.html","title":{"rendered":"286 retailers integrated with FBR for sales-tax invoices reporting"},"content":{"rendered":"\n<p>Islamabad: The Federal Board of Revenue (FBR) recently announced that 286 retailers had integrated a total of 5,783 Point of Sales (PoS) systems with the tax authority, a news source reported. As per the publication, this development is expected to help the FBR in reporting the retailers\u2019 sales tax invoices in real-time.<\/p>\n\n\n\n<p><strong>Read<\/strong>: <a rel=\"noreferrer noopener\" aria-label=\"Bakeries, sweet marts required to provide sales record: FBR (opens in a new tab)\" href=\"https:\/\/www.zameen.com\/news\/bakeries-sweet-marts-required-to-provide-sales-record-fbr.html\" target=\"_blank\">Bakeries, sweet marts required to provide sales record <\/a><a href=\"https:\/\/www.zameen.com\/news\/bakeries-sweet-marts-required-to-provide-sales-record-fbr.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"Bakeries, sweet marts required to provide sales record: FBR (opens in a new tab)\">&#8211;<\/a><a rel=\"noreferrer noopener\" aria-label=\"Bakeries, sweet marts required to provide sales record: FBR (opens in a new tab)\" href=\"https:\/\/www.zameen.com\/news\/bakeries-sweet-marts-required-to-provide-sales-record-fbr.html\" target=\"_blank\"> FBR<\/a><\/p>\n\n\n\n<p>The statement issued by the taxation authority said that progress was possible due to the continuous effort of the FBR and its field formations. Previously, the board had prescribed the electronic integration of PoSs of all tier-1 retailers in the textile and leather sectors in the Financial Budget 2018-19. With this measure, it aimed to ensure the correct reporting of sales by these retailers and the collection of due taxes from them.<\/p>\n\n\n\n<p><strong>Read<\/strong>: <a href=\"https:\/\/www.zameen.com\/news\/fbr-consider-fining-pos-non-complying-retailers.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"FBR to consider fining POS non-complying retailers (opens in a new tab)\">FBR to consider fining POS non-complying retailers<\/a><\/p>\n\n\n\n<p>The FBR had initially kept the integration of PoSs as optional. However, to encourage retailers to integrate their systems, the board had introduced the incentive of <a href=\"https:\/\/www.zameen.com\/news\/govt-notifies-ordinance-on-tax-concessions-to-traders.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"reduced sales taxes (opens in a new tab)\">reduced sales taxes<\/a> for those willing to follow the tax authority\u2019s directives in this regard. <\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/pos-installation-deadline-expires-soon.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"POS Installation: Deadline expires soon (opens in a new tab)\">POS Installation: Deadline expires soon<\/a><\/p>\n\n\n\n<p>The taxation authority then amended the Sales Tax Act 1990 through the Finance Act 2019 in order to introduce the provisions for mandatory integration of PoSs. It also provided a deadline of December 15, 2019 for retailers to integrate their systems. <\/p>\n\n\n\n<p><strong>Read<\/strong>: <a href=\"https:\/\/www.zameen.com\/news\/fbr-urged-simplify-process-claim-sales-tax-refund.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"FBR urged to simplify process to claim sales tax refund (opens in a new tab)\">FBR urged to simplify process to claim sales tax refund<\/a><\/p>\n\n\n\n<p>To facilitate the retailers on this front, the FBR has been conducting\nmeetings, workshops, and seminars across the country. Additionally, the board\nhas tasked focal persons with assisting the retailers, as well as establish help\ndesks, and upload support material on the PoS page of its official website. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Federal Board of Revenue (FBR) recently announced that 286 retailers had integrated a total of 5,783 Point of Sales (PoS) systems with the tax authority, a news source reported. As per the publication, this development is expected to help the FBR in reporting the retailers\u2019 sales tax invoices in real-time. Read: Bakeries, sweet marts required to provide sales record &#8211; FBR The statement issued by the taxation authority said that progress was possible due to the continuous effort of the FBR and its field formations. Previously, the board had prescribed the electronic integration of PoSs of all tier-1 retailers in the textile and leather sectors in the Financial Budget 2018-19. With this measure, it aimed to ensure the correct reporting of sales by these retailers and the collection of due taxes from them. Read: FBR to consider fining POS non-complying retailers The FBR had initially kept the integration of PoSs as optional. However, to encourage retailers to integrate their systems, the board had introduced the incentive of reduced sales taxes for those willing to follow the tax authority\u2019s directives in this regard. Read: POS Installation: Deadline expires soon The taxation authority then amended the Sales Tax Act 1990&hellip;<\/p>\n","protected":false},"author":68,"featured_media":59990,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[17323],"persona":[],"class_list":{"0":"post-60802","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-details-on-286-retailers-integrated-with-fbr-for-sales-tax-invoices-reporting","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>286 retailers integrated with FBR for sales-tax invoices reporting - Zameen News<\/title>\n<meta name=\"description\" content=\"The Federal Board of Revenue (FBR) recently announced that 286 retailers had integrated 5,783 Point of Sales (PoS) systems with the tax authority.\" \/>\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\/286-retailers-integrated-fbr-sales-tax-invoices-reporting.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"286 retailers integrated with FBR for sales-tax invoices reporting - Zameen News\" \/>\n<meta property=\"og:description\" content=\"The Federal Board of Revenue (FBR) recently announced that 286 retailers had integrated 5,783 Point of Sales (PoS) systems with the tax authority.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/286-retailers-integrated-fbr-sales-tax-invoices-reporting.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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