{"id":80530,"date":"2021-10-13T10:03:52","date_gmt":"2021-10-13T05:03:52","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=80530"},"modified":"2021-10-13T13:58:12","modified_gmt":"2021-10-13T08:58:12","slug":"fbr-issues-notices-tier-1-retailers","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/fbr-issues-notices-tier-1-retailers.html","title":{"rendered":"POS Registration: FBR issues notices to tier-1 retailers"},"content":{"rendered":"\n<p>Lahore: The Federal Board of Revenue (FBR) has issued compliance notices to 200 Tier-1 retailers to register with the Point of Sale (POS) integration system, according to news published on Tuesday (October 12).\u00a0<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/fbr-15-day-extension-income-tax-returns.html\" target=\"_blank\" rel=\"noreferrer noopener\">FBR grants 15-day extension in income tax returns\u2019 submission deadline<\/a><\/p>\n\n\n\n<p>As per the details, FBR has made it mandatory for tier-1 retail outlets of textile, sports, and leather goods to register with the POS integration system. It was also mentioned that penalties, ranging from PKR 0.5 million to PKR 2 million, have been imposed on the retailers who have ignored the previously served notices. If the retailers still fail to register, the next step would be to seal their outlets.&nbsp;<\/p>\n\n\n\n<p>Additional Commissioner Tanveer Iqbal, who is the focal person for POS, disclosed that 114 retailers have registered with the board since 2019. He went on to say that the number of retail outlets will be doubled by the end of the second quarter of the ongoing fiscal year. It was reported that a total of 34 retail outlets have been registered with FBR during the first quarter of the current fiscal year.&nbsp;<\/p>\n\n\n\n<p>According to the commissioner, retailers have failed to register because of a lack of awareness about the <a href=\"https:\/\/www.zameen.com\/news\/fbr-online-sales-system.html\" target=\"_blank\" rel=\"noreferrer noopener\">POS system<\/a>. Additional Commissioner stated that a campaign has been launched to spread awareness. He further added that incentives are being offered such as permission to charge PKR 1 per invoice from consumers in order to meet the service charges and decreased tax rate of 7% to motivate retailers to register.\u00a0<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/online-tax-returns-portal-working.html\" target=\"_blank\" rel=\"noreferrer noopener\">Online tax returns submission portal working seamlessly, deadline today: FBR<\/a><\/p>\n\n\n\n<p>Moreover, the board has approved 40 vendors for the installation of a POS integration system at the retail outlets. The additional commissioner mentioned that FBR focuses on encouraging registration through awareness rather than imposing penalties.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lahore: The Federal Board of Revenue (FBR) has issued compliance notices to 200 Tier-1 retailers to register with the Point of Sale (POS) integration system, according to news published on Tuesday (October 12).\u00a0 Read: FBR grants 15-day extension in income tax returns\u2019 submission deadline As per the details, FBR has made it mandatory for tier-1 retail outlets of textile, sports, and leather goods to register with the POS integration system. It was also mentioned that penalties, ranging from PKR 0.5 million to PKR 2 million, have been imposed on the retailers who have ignored the previously served notices. If the retailers still fail to register, the next step would be to seal their outlets.&nbsp; Additional Commissioner Tanveer Iqbal, who is the focal person for POS, disclosed that 114 retailers have registered with the board since 2019. He went on to say that the number of retail outlets will be doubled by the end of the second quarter of the ongoing fiscal year. It was reported that a total of 34 retail outlets have been registered with FBR during the first quarter of the current fiscal year.&nbsp; According to the commissioner, retailers have failed to register because of a lack of&hellip;<\/p>\n","protected":false},"author":83,"featured_media":75334,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[19230,48870,48868,48871],"persona":[],"class_list":{"0":"post-80530","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-issued-compliance-notices-to-200-tier-1-retailers","10":"tag-pos-registration-fbr-issues-notices-to-tier-1-retailers","11":"tag-register-with-point-of-sale-integration-system","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>POS Registration: FBR issues notices to tier-1 retailers - Zameen News<\/title>\n<meta name=\"description\" content=\"The Federal Board of Revenue (FBR) has issued compliance notices to 200 Tier-1 retailers to register with the Point of Sale (POS) integration system....\" \/>\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-issues-notices-tier-1-retailers.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"POS Registration: FBR issues notices to tier-1 retailers - Zameen News\" \/>\n<meta property=\"og:description\" content=\"The Federal Board of Revenue (FBR) has issued compliance notices to 200 Tier-1 retailers to register with the Point of Sale (POS) integration system....\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/fbr-issues-notices-tier-1-retailers.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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