Manufacturers, dealers, distributors, wholesalers, and retailers that integrate with the newly formed Directorate General for Digital Invoicing and Analysis will get considerable incentives and relaxations from the Federal Board of Revenue (FBR).
The FBR would have access to monthly sales tax statistics, including sales tax payments, under the new system. For those manufacturers, dealers, distributors, and retailers who are connected to the DG Digital Invoicing and Analysis system, the FBR is likely to waive the key requirement of monthly submission of sales tax reports and audits.
In the event that online data is available, the FBR will provide discounts to the whole supply chain in exchange for monthly electronic data reporting. The FBR’s system would create monthly sales tax returns for the aforementioned supply chain categories, which would be linked to the Directorate General for Digital Invoicing and Analysis
Asem Iftikhar, a BS-20 officer with the Inland Revenue Service (IRS), was recently promoted to Director-General, Directorate General of Digital Invoicing and Analysis by the Federal Board of Revenue (FBR).
The Directorate General of Digital Invoicing and Analysis will henceforth be made up of a Director-General and as many Directors, Additional Directors, Deputy Directors, and Assistant Directors, as well as any other officials that the Board may designate by the announcement in the Official Gazette.