{"id":65925,"date":"2020-05-28T16:58:24","date_gmt":"2020-05-28T11:58:24","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=65925"},"modified":"2020-05-28T16:58:27","modified_gmt":"2020-05-28T11:58:27","slug":"fbr-extends-deadline-online-integration-of-retailers","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/fbr-extends-deadline-online-integration-of-retailers.html","title":{"rendered":"FBR extends deadline for online integration of retailers"},"content":{"rendered":"\n<p>Islamabad: The Federal Board of Revenue (FBR) recently provided another extension in the deadline for online integration of retailers, a news source reported. To this effect, the taxation agency has stretched the deadline to June 30 for tier-1 retailers to facilitate the integration of their \u2018point of sales\u2019 (POS) with FBR\u2019s computerised system for sales reporting in real time.<\/p>\n\n\n\n<p><strong>Read<\/strong>: <a href=\"https:\/\/www.zameen.com\/news\/fbr-offers-tax-incentive-to-top-tier-retailers.html\" target=\"_blank\" rel=\"noreferrer noopener\">FBR offers tax incentive to top-tier retailers for POS integration<\/a><\/p>\n\n\n\n<p>Earlier, FBR had extended the said deadline to April 30. It has also allowed the already integrated tier-1 retailers to adjust their input tax to an extent of 95% of their output tax. FBR has stated that the excess amount of the tax would carry forward to the upcoming tax period.<\/p>\n\n\n\n<p>According to details, tier-1 retailers required to carry out online POS integration include operating units<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>of national and international chain of stores<\/li><li>with a cumulative electricity bill over PKR 600,000 for the immediately preceding 12 consecutive months<\/li><li>within air-conditioned malls, centres, or plazas<\/li><li>wholesalers-cum-retailers operating in field of bulk imports and supply of consumer good to retailers on wholesale basis<\/li><\/ul>\n\n\n\n<p><strong>Read<\/strong>: <a href=\"https:\/\/www.zameen.com\/news\/fbr-retailers-show-sales-tax-separately-price-tags-menu-cards.html\" target=\"_blank\" rel=\"noreferrer noopener\">FBR directs retailers to show sales tax separately on price tags, menu cards<\/a><\/p>\n\n\n\n<p>On the other hand, FBR has been requested to increase the minimum area of shop and amount of electricity bills for tier-1 retailers required to conduct POS integrations. In this regard, individuals concerned have suggested to increase the minimum area to 3,000 square feet from existing 1,000 square feet and electricity bills to PKR 2.4 million from the current PKR 1.2 million per annum.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Federal Board of Revenue (FBR) recently provided another extension in the deadline for online integration of retailers, a news source reported. To this effect, the taxation agency has stretched the deadline to June 30 for tier-1 retailers to facilitate the integration of their \u2018point of sales\u2019 (POS) with FBR\u2019s computerised system for sales reporting in real time. Read: FBR offers tax incentive to top-tier retailers for POS integration Earlier, FBR had extended the said deadline to April 30. It has also allowed the already integrated tier-1 retailers to adjust their input tax to an extent of 95% of their output tax. FBR has stated that the excess amount of the tax would carry forward to the upcoming tax period. According to details, tier-1 retailers required to carry out online POS integration include operating units of national and international chain of stores with a cumulative electricity bill over PKR 600,000 for the immediately preceding 12 consecutive months within air-conditioned malls, centres, or plazas wholesalers-cum-retailers operating in field of bulk imports and supply of consumer good to retailers on wholesale basis Read: FBR directs retailers to show sales tax separately on price tags, menu cards On the other hand, FBR&hellip;<\/p>\n","protected":false},"author":68,"featured_media":61403,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[30189],"persona":[],"class_list":{"0":"post-65925","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-details-on-fbr-extends-deadline-for-online-integration-of-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 extends deadline for online integration of retailers - Zameen News<\/title>\n<meta name=\"description\" content=\"The Federal Board of Revenue (FBR) recently provided another extension in the deadline for online integration of retailers, a news source reported.\" \/>\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-extends-deadline-online-integration-of-retailers.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FBR extends deadline for online integration of retailers - Zameen News\" \/>\n<meta property=\"og:description\" content=\"The Federal Board of Revenue (FBR) recently provided another extension in the deadline for online integration of retailers, a news source reported.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/fbr-extends-deadline-online-integration-of-retailers.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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