{"id":63906,"date":"2020-04-11T09:49:00","date_gmt":"2020-04-11T04:49:00","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=63906"},"modified":"2020-04-10T16:16:10","modified_gmt":"2020-04-10T11:16:10","slug":"fbr-mulls-integrating-transactions-service-providers","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/fbr-mulls-integrating-transactions-service-providers.html","title":{"rendered":"FBR mulls integrating transactions of service providers to expand tax base"},"content":{"rendered":"\n<p>Karachi: The Federal Board of Revenue (FBR) is considering to digitally integrate the customer transactions of all of the country\u2019s service providers in a manner similar to the <a href=\"https:\/\/www.zameen.com\/news\/fbr-extends-pos-integration-deadline-retailers.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"large retailers (opens in a new tab)\">large retailers<\/a> \u2014 in a bid to extend the tax net to the sector popularly deemed to be &#8216;the biggest contributor&#8217; to the economy, according to news sources. <\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/new-fbr-chairperson-takes-charge.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"New FBR chief takes charge (opens in a new tab)\">New FBR chief takes charge<\/a><\/p>\n\n\n\n<p>As\nper the FBR\u2019s outline, 12 sectors are included in this new proposed law; hotel\nindustry, restaurants, intercity road transporter, courier, personal care or\nbeauty salons, medical professionals, photographers, accountants, laboratory,\nhospitals, and health clubs, among others. The board has issued a draft of the\nrules which will make it mandatory for service providers to install Electronic\nFiscal Devices (EFD) to record their transactions. <\/p>\n\n\n\n<p>Under these rules, no sales or services will go unrecorded by the duly accredited EFD at the notified establishments. A system of combined one sale data controller and POS will be introduced at companies that fall under the Income Tax Ordinance, 2001.<\/p>\n\n\n\n<p> <strong>Read:<\/strong> <a rel=\"noreferrer noopener\" href=\"https:\/\/www.zameen.com\/news\/fbr-refunds-56b-exports-faster.html\" target=\"_blank\">FBR refunds PKR 56bn to exporters through FASTER system<\/a> <\/p>\n\n\n\n<p>Considering\nthe income capacity of the said sectors, FBR seeks to bring them under the tax\nnet. The board has already initiated businesses\u2019 integration under sales tax by\nmaking installation of point of sale (POS) system mandatory for tier-1\nretailers. Officials in the Regional Tax Offices (RTO-II) Karachi have revealed\nthat a physical survey has already been conducted to gather data of such\nservice providers. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Karachi: The Federal Board of Revenue (FBR) is considering to digitally integrate the customer transactions of all of the country\u2019s service providers in a manner similar to the large retailers \u2014 in a bid to extend the tax net to the sector popularly deemed to be &#8216;the biggest contributor&#8217; to the economy, according to news sources. Read: New FBR chief takes charge As per the FBR\u2019s outline, 12 sectors are included in this new proposed law; hotel industry, restaurants, intercity road transporter, courier, personal care or beauty salons, medical professionals, photographers, accountants, laboratory, hospitals, and health clubs, among others. The board has issued a draft of the rules which will make it mandatory for service providers to install Electronic Fiscal Devices (EFD) to record their transactions. Under these rules, no sales or services will go unrecorded by the duly accredited EFD at the notified establishments. A system of combined one sale data controller and POS will be introduced at companies that fall under the Income Tax Ordinance, 2001. Read: FBR refunds PKR 56bn to exporters through FASTER system Considering the income capacity of the said sectors, FBR seeks to bring them under the tax net. The board has already initiated&hellip;<\/p>\n","protected":false},"author":75,"featured_media":59990,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[25863,25861,19230,25862],"persona":[],"class_list":{"0":"post-63906","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-electronic-fiscal-devices-efd","9":"tag-fbr-mulls-integrating-transactions-of-service-providers-to-expand-tax-base","10":"tag-federal-board-of-revenue-fbr","11":"tag-tier-1-retailers","12":"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 mulls integrating transactions of service providers - Zameen News<\/title>\n<meta name=\"description\" content=\"FBR is considering to digitally integrate the customer transactions of all of the country\u2019s service providers in a manner similar to the large retailers\" \/>\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-mulls-integrating-transactions-service-providers.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FBR mulls integrating transactions of service providers - Zameen News\" \/>\n<meta property=\"og:description\" content=\"FBR is considering to digitally integrate the customer transactions of all of the country\u2019s service providers in a manner similar to the large retailers\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/fbr-mulls-integrating-transactions-service-providers.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ZameenPK\" \/>\n<meta property=\"article:published_time\" content=\"2020-04-11T04:49:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/01\/FBR.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1100\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Hazafa Hasan\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:site\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Hazafa Hasan\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"FBR mulls integrating transactions of service providers - Zameen News","description":"FBR is considering to digitally integrate the customer transactions of all of the country\u2019s service providers in a manner similar to the large retailers","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.zameen.com\/news\/fbr-mulls-integrating-transactions-service-providers.html","og_locale":"en_US","og_type":"article","og_title":"FBR mulls integrating transactions of service providers - Zameen News","og_description":"FBR is considering to digitally integrate the customer transactions of all of the country\u2019s service providers in a manner similar to the large retailers","og_url":"https:\/\/www.zameen.com\/news\/fbr-mulls-integrating-transactions-service-providers.html","og_site_name":"Pakistan Real Estate News &amp; 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