{"id":62590,"date":"2020-03-12T15:04:45","date_gmt":"2020-03-12T10:04:45","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=62590"},"modified":"2020-03-12T15:04:46","modified_gmt":"2020-03-12T10:04:46","slug":"fbr-crack-down-traders-unwilling-to-share-details-on-invoices-over-pkr-50000","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/fbr-crack-down-traders-unwilling-to-share-details-on-invoices-over-pkr-50000.html","title":{"rendered":"FBR to crack down traders unwilling to share details on invoices over PKR 50,000"},"content":{"rendered":"\n<p>Karachi: The Federal Board of Revenue (FBR) is set to launch a crackdown against traders who are not willing to share details on invoices over PKR 50,000 purchases, a news source reported. As per the publication, the FBR has completed its strategy and will impose fines against importers, retailers and manufacturers who failed to collect the Computerised National Identity Cards (CNICs) of the buyers during transactions over PKR 50,000.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/fbr-notifies-hotels-food-points-pay-due-taxes.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"FBR notifies hotels, food points to pay due taxes (opens in a new tab)\">FBR notifies hotels, food points to pay due taxes<\/a><\/p>\n\n\n\n<p>It was announced by the government last year that the said rule would be implemented from August 2019 but it was delayed till January 31 of this year \u2013 owing to the rigorous demands of the small traders and retailers. Reportedly, traders and retailers are directed to <a href=\"https:\/\/www.zameen.com\/news\/cnic-condition-re-enforced-purchases-over-exceeding-pkr-50000.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"provide the CNICs (opens in a new tab)\">provide the CNICs<\/a> of the buyers purchasing over PKR 50,000 along with the sales tax returns by March 15 for February.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/fbr-announces-17-increase-in-revenue.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"FBR announces 17% increase in revenue collection (opens in a new tab)\">FBR announces 17% increase in revenue collection<\/a><\/p>\n\n\n\n<p>FBR officials will review\nthe tax returns and separate the invoices in which the required information is\nnot attached \u2013 penalties up to PKR 5000 or 3 percent of the tax will be imposed\nfor violators. The authority also alerted against the collection of the CNICs\nor National Tax Number (NTN) of the associates and employees of the sellers. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Karachi: The Federal Board of Revenue (FBR) is set to launch a crackdown against traders who are not willing to share details on invoices over PKR 50,000 purchases, a news source reported. As per the publication, the FBR has completed its strategy and will impose fines against importers, retailers and manufacturers who failed to collect the Computerised National Identity Cards (CNICs) of the buyers during transactions over PKR 50,000. Read: FBR notifies hotels, food points to pay due taxes It was announced by the government last year that the said rule would be implemented from August 2019 but it was delayed till January 31 of this year \u2013 owing to the rigorous demands of the small traders and retailers. Reportedly, traders and retailers are directed to provide the CNICs of the buyers purchasing over PKR 50,000 along with the sales tax returns by March 15 for February. Read: FBR announces 17% increase in revenue collection FBR officials will review the tax returns and separate the invoices in which the required information is not attached \u2013 penalties up to PKR 5000 or 3 percent of the tax will be imposed for violators. The authority also alerted against the collection of the&hellip;<\/p>\n","protected":false},"author":76,"featured_media":61403,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15016,15020],"tags":[20831,19230,22676,22679],"persona":[],"class_list":{"0":"post-62590","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-developments","8":"category-social-developments","9":"tag-cnics","10":"tag-federal-board-of-revenue-fbr","11":"tag-sales-tax-returns","12":"tag-traders-retailers","13":"cat-15016-id","14":"cat-15020-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 crack down traders unwilling to share details - Zameen News<\/title>\n<meta name=\"description\" content=\"Karachi: The Federal Board of Revenue (FBR) is set to launch a crackdown against traders who are not willing to share details on invoices over PKR 50,000\" \/>\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-crack-down-traders-unwilling-to-share-details-on-invoices-over-pkr-50000.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FBR to crack down traders unwilling to share details - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Karachi: The Federal Board of Revenue (FBR) is set to launch a crackdown against traders who are not willing to share details on invoices over PKR 50,000\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/fbr-crack-down-traders-unwilling-to-share-details-on-invoices-over-pkr-50000.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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