FBR Presents System to Document Sales of Big Retailers
According to published reports, the Federal Board of Revenue (FBR) has introduced an online system to document sales that will connect the sales systems of large retailers to FBR’s system via the internet.
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According to the information provided, Chief Commissioner of the Medium Taxpayers Office Abdul Hameed Memon stated that retailers will not need to purchase new equipment to utilise this system. The retailers will simply need to download an application from the FBR website and instal it on their existing machines.
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In addition, this Point of Sale (PoS) invoice reporting system automates the preparation of sales tax returns, thereby reducing retailers’ expenses. In addition, customers can use the Tax Asaan App to confirm that the sales tax has been paid and that the sales have been reported to FBR.
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