Byline: Imran Ali Kundi
ISLAMABAD -- Federal Board of Revenue (FBR) Chairman Shabbar Zaidi on Friday said that FBR is committed to automate the taxation system.
"FBR is thankful for the overwhelming and productive response of Tier 1 Retailers for integration with 'Point of Sales' (POS) system. FBR IT will ensure compatibility of 'systems' with FBR software. We are fully committed to automated system with least human intervention," chairman said on Twitter. He further said that integration of Tier 1 Retailers with automated 'Point of Sales' system is a win win situation both for such retailers and FBR. FBR assures a smooth, harassment and hassle free transition. It will be ensured that a transparent system with least human intervention is put in place, he added.
The drive for installation of automated 'Point of Sale' (POS) system at big retailers located in luxurious shopping malls, retail chains and stores having 1,000 square feet size across the country was stated from the start of current month (December).
The drive is part of government's commitment to document sales of big retailers who are currently evading payment of taxes, which runs into billions. It is estimated that FBR will raise around Rs20 billion in taxes from brining all these retailers into the net. These shops collect taxes from consumers, but the same is not always deposited with FBR.
The FBR had directed all 'Tier-I' category of retailers to integrate their retail outlets with Board's computerized system for real-time reporting of their sales. From December 2019, all Tier-I retailers shall integrate their retail outlets with Board's computerized system for real-time reporting of sales in the mode and manner as prescribed.
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