{"id":69411,"date":"2020-08-19T16:05:18","date_gmt":"2020-08-19T11:05:18","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=69411"},"modified":"2020-08-19T16:05:39","modified_gmt":"2020-08-19T11:05:39","slug":"tier-1-retailers-warned-to-integrate-pos-system-to-avoid-penalties","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/tier-1-retailers-warned-to-integrate-pos-system-to-avoid-penalties.html","title":{"rendered":"Tier-1 retailers warned to integrate POS system to avoid penalties"},"content":{"rendered":"\n<p>Islamabad: The Federal Board of Revenue (FBR) has issued a reminder for all tier-1 retailers to ensure that their outlets have integrated their transactions with the authority\u2019s point of sales (<a href=\"https:\/\/www.zameen.com\/news\/fbr-extends-deadline-online-integration-of-retailers.html\" target=\"_blank\" rel=\"noreferrer noopener\">POS<\/a>) system before August 31 \u2013 in order to avoid penalties, according to a post published on the authority\u2019s Facebook page on August 18.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/response-construction-industry-relief-package-encouraging-fbr.html\" target=\"_blank\" rel=\"noreferrer noopener\">Response to construction industry relief package encouraging: FBR<\/a><\/p>\n\n\n\n<p>The FBR has already given multiple extensions to retailers for POS integration and has issued a warning for any outlet that fails to comply with the said deadline that itwill be facing a monetary penalty that can exceed upto PKR 1 million. The FBR has also cautioned that it will seal-off the outlets of those retail brands who have paid their fines and still have not integrated the said &nbsp;systems.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/fbr-directed-pay-outstanding-income-tax-refunds-one-week.html\" target=\"_blank\" rel=\"noreferrer noopener\">FBR directed to pay outstanding income tax refunds within one week<\/a><\/p>\n\n\n\n<p>All top-tier retailers in the country \u2013 with store-chains and air-conditioned outlets in luxury shopping arenas \u2013 are requested to ensure the POS system integration for recording sales in real-time. The tier-1 retailers are defined by the authority as the stores with power bills exceeding PKR 1.2 million in the past year, or brands with shops spanning over 1,000 sq ft, and retailers who import or export large quantities (on a wholesale basis) of goods internationally.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Federal Board of Revenue (FBR) has issued a reminder for all tier-1 retailers to ensure that their outlets have integrated their transactions with the authority\u2019s point of sales (POS) system before August 31 \u2013 in order to avoid penalties, according to a post published on the authority\u2019s Facebook page on August 18. Read: Response to construction industry relief package encouraging: FBR The FBR has already given multiple extensions to retailers for POS integration and has issued a warning for any outlet that fails to comply with the said deadline that itwill be facing a monetary penalty that can exceed upto PKR 1 million. The FBR has also cautioned that it will seal-off the outlets of those retail brands who have paid their fines and still have not integrated the said &nbsp;systems. Read: FBR directed to pay outstanding income tax refunds within one week All top-tier retailers in the country \u2013 with store-chains and air-conditioned outlets in luxury shopping arenas \u2013 are requested to ensure the POS system integration for recording sales in real-time. The tier-1 retailers are defined by the authority as the stores with power bills exceeding PKR 1.2 million in the past year, or brands with&hellip;<\/p>\n","protected":false},"author":75,"featured_media":61403,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[19230,25108,37251],"persona":[],"class_list":{"0":"post-69411","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-federal-board-of-revenue-fbr","9":"tag-point-of-sales-pos","10":"tag-tier-1-retailers-warned-to-integrate-pos-system-to-avoid-penalties","11":"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>Tier-1 retailers warned to integrate POS system - Zameen News<\/title>\n<meta name=\"description\" content=\"FBR has issued reminder for all tier-1 retailers to ensure that their outlets have integrated with authority\u2019s point of sales (POS) system before August 31\" \/>\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\/tier-1-retailers-warned-to-integrate-pos-system-to-avoid-penalties.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tier-1 retailers warned to integrate POS system - Zameen News\" \/>\n<meta property=\"og:description\" content=\"FBR has issued reminder for all tier-1 retailers to ensure that their outlets have integrated with authority\u2019s point of sales (POS) system before August 31\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/tier-1-retailers-warned-to-integrate-pos-system-to-avoid-penalties.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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