{"id":88581,"date":"2022-09-09T17:02:19","date_gmt":"2022-09-09T12:02:19","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=88581"},"modified":"2022-09-09T17:02:21","modified_gmt":"2022-09-09T12:02:21","slug":"fbr-notice-tier-1-retailers-pos-system","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/fbr-notice-tier-1-retailers-pos-system.html","title":{"rendered":"FBR issues notice to Tier-1 retailers to integrate POS system"},"content":{"rendered":"\n<p>Islamabad: The Federal Board of Revenue (FBR) on Thursday (September 8) notified 81 large Tier-1 retailers to register with the Point of Sales (POS) system to continue operations, news sources reported. The businesses have been given a deadline of September 10 (tomorrow) to comply with the order to avoid legal action.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/fbr-donations-taxes-and-duties.html\" data-type=\"post\" data-id=\"88352\" target=\"_blank\" rel=\"noreferrer noopener\">FBR exempts donations from taxes and duties<\/a><\/p>\n\n\n\n<p>In this respect, the FBR issued Sales Tax General Order (STGO) 3 of 2022 to all listed enterprises, directing them to implement the necessary systems and begin issuing sales <a href=\"https:\/\/www.zameen.com\/news\/fbr-ask-retailers-to-mention-cash-discounts-on-invoices.html\" data-type=\"post\" data-id=\"80643\">tax invoices to consumers<\/a>. The authorities have warned that failure to comply would result in the closure of their businesses and financial penalties. Similarly, non-integrated Tier-I merchants&#8217; input tax claims would be rejected. According to the FBR&#8217;s announcement, a system-based approach has been established to operationalise this essential aspect of the legislation. All<a href=\"https:\/\/www.zameen.com\/news\/fbr-reward-pos-integrated-tier-1-retail-shoppers.html\" data-type=\"post\" data-id=\"82224\" target=\"_blank\" rel=\"noreferrer noopener\"> Tier-I merchants<\/a> are obliged to be connected with the FBR. The method for exclusion from this list of designated Tier-I will be followed as outlined in STGO 17 of 2022, dated May 13, 2022.\u00a0\u00a0<\/p>\n\n\n\n<div class=\"wp-block-file\"><a href=\"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2022\/09\/202285168178196scan0395.pdf\"> Sales Tax General Order (STGO) 3 <\/a><a href=\"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2022\/09\/202285168178196scan0395.pdf\" class=\"wp-block-file__button\" download>Download<\/a><\/div>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/fbr-sales-tax-unregistered-tier-1-retailers.html\" data-type=\"post\" data-id=\"87175\" target=\"_blank\" rel=\"noreferrer noopener\">POS registration: FBR to increase sales tax for unregistered tier-1 retailers<\/a><\/p>\n\n\n\n<p>In August, the FBR produced a list of 114 large retailers (Tier-1) who were required to connect with the FBR&#8217;s POS system or be denied a 60% input tax credit. However, the number of large merchants (Tier-1) connected with the POS system has decreased to 81.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Federal Board of Revenue (FBR) on Thursday (September 8) notified 81 large Tier-1 retailers to register with the Point of Sales (POS) system to continue operations, news sources reported. The businesses have been given a deadline of September 10 (tomorrow) to comply with the order to avoid legal action. Read: FBR exempts donations from taxes and duties In this respect, the FBR issued Sales Tax General Order (STGO) 3 of 2022 to all listed enterprises, directing them to implement the necessary systems and begin issuing sales tax invoices to consumers. The authorities have warned that failure to comply would result in the closure of their businesses and financial penalties. Similarly, non-integrated Tier-I merchants&#8217; input tax claims would be rejected. According to the FBR&#8217;s announcement, a system-based approach has been established to operationalise this essential aspect of the legislation. All Tier-I merchants are obliged to be connected with the FBR. The method for exclusion from this list of designated Tier-I will be followed as outlined in STGO 17 of 2022, dated May 13, 2022.\u00a0\u00a0 Read: POS registration: FBR to increase sales tax for unregistered tier-1 retailers In August, the FBR produced a list of 114 large retailers (Tier-1) who&hellip;<\/p>\n","protected":false},"author":84,"featured_media":61403,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[53986,53987,25862],"persona":[],"class_list":{"0":"post-88581","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-fbr-issues-notice-to-tier-1-retailers-to-integrate-with-pos-system","9":"tag-fbr-notice-to-tier-1-retailers","10":"tag-tier-1-retailers","11":"cat-15017-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 issues notice to Tier-1 retailers to integrate POS system- Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The Federal Board of Revenue (FBR) on Thursday (September 8) notified 81 large Tier-1 retailers to register with the Point of Sales (POS)\" \/>\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-notice-tier-1-retailers-pos-system.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FBR issues notice to Tier-1 retailers to integrate POS system- Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The Federal Board of Revenue (FBR) on Thursday (September 8) notified 81 large Tier-1 retailers to register with the Point of Sales (POS)\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/fbr-notice-tier-1-retailers-pos-system.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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