FBR to launch automated 'Point of Sale' for large retailers next month.

ISLAMABAD -- Federal Bureau of Revenue Chairman Shabbar Zaidi has said the tax collection authority would launch an automated 'Point of Sale' for all large retailers from next month. This step will help FBR bring potential retailers in tax net. In a post on a Twitter, the FBR chairman said, 'FBR will launch automated 'Point of Sale'(POS) for all large retailers from next month. All large-scale retailers are suggested to integrate with the system. This will greatly assist such retailers as in such cases personal interaction with FBR will be minimized. '

He also termed the move 'a way forward'. Top official sources said that computerised machines will be installed at mega retail stores and shopping malls that will be linked with the FBR system in order to avoid tax evasion worth billions of rupees. FBR also plans to come up with gift scheme for those customers through balloting who will get computerised receipts of purchases through computerised installed machines. At the first stage, the FBR plans to establish its linkages at point of sale at giant retailers and shopping malls located in posh areas. The tax regulating authority plans on targeting a few thousand mega retailers at luxurious shopping malls. 'We will bring mega retailer chains and shopping malls in tax net as thousands of retailers POS will be linked with the FBR's software as it will help achieve documentation of the economy, ' sources said. In the past all efforts made by the FBR have failed to fetch the desired...