Tarin Asks FBR to Ensure Tracking Progress of POS Machines
The Minister for Finance and Revenue in Islamabad, Shaukat Tarin, has instructed the tax authorities to maintain effective tracking of installed Point of Sale (POS) machines and to offer post-deployment support for businesses.
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After adjusting for input and output taxes, he ordered the determination of the entire volume of sales by shops in order to properly tap the money generated through the POS system. He ordered the establishment of a cell at FBR headquarters to expedite the POS integration process.
On Tuesday, Tarin visited the FBR headquarters and met with FBR officers. The purpose of the conference was to establish a plan to expand retailer integration with FBR’s Point of Sale system.
Also covered during the conference was the strategy for bringing identified potential taxpayers into the tax system. At the meeting were Special Assistant to the Prime Minister on Finance & Revenue Dr. Waqar Masood Khan, Chairman of the FBR Asim Ahmad, and other officials of the FBR.
The minister emphasised the necessity to conclude the auditing procedures of a third party, which would not only expand the tax base but also produce much-needed money. The conference was adjourned when it was determined to arrange regular sessions to pursue the goals expeditiously.
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