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FBR publishes a list of retailers that have yet to integrate their POS systems Credit ProPakistani

FBR publishes a list of retailers that have yet to integrate their POS systems

Posted on August 5, 2022

To comply with the FBR’s Point of Sale (POS) system requirements, the FBR has published a list of 114 unregistered shops (Tier-1).

These 114 merchants are in violation of STGO 2 of 2022 because they are not adhering to the established regime and are not depositing sales tax received from customers in the national fund.

As of July, the FBR has published a list of 101 large merchants (Tier-1) whose POS systems were to be connected. Due to the lack of integration, they were only eligible for a 60% credit on their input taxes.

There are now 113 large stores (Tier-1) whose POS systems must be connected. Due to a deadline of August 10, 2022, the FBR’s board has agreed to increase sales tax demands against these large shops (Tier-1).

The FBR has indicated that the input tax claim of all Tier-1 shops for the month of August 2022 would be denied when they file their sales tax return.

The FBR’s notice further indicated that a system-based strategy has been chosen in order to implement this provision of legislation.

Exclusion from the list of designated Tier-I will be handled in accordance with STGO 17 of 2022, which was issued on May 13, 2022, according to FBR.

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1 thought on “FBR publishes a list of retailers that have yet to integrate their POS systems”

  1. Pingback: FBR Strengthens Its Grip On Unregistered Retailers - Financeupdates

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