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FBR To Install Machines At Stores And Malls For Sale Receipts To Eliminate Risks Of Tax Evasion
FBR’s aim is to develop links at the sale points of big retailers and shopping malls, which are located in big areas.
By MISHAL ALI On OCT 1, 2019
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The FBR has decided to introduce a new set of rules for bringing shopping malls and mega-retailers outlets into registration through the point of sale system. This had been done to deliver a clear message to small traders on the basis of Computerized National Identity Cards (CNIC).
These machines will be installed at retail stores and shopping malls, they will be connected with the FBR system so, there is no risk of tax evasion. Future plans of FBR include planning of gift scheme for the customers through voting, who will receive computerized receipts of purchases through the installed machines.
FBR’s aim is to develop links at the sale points of big retailers and shopping malls, which are located in big areas. The aim is to target a few thousand mega-retailers, having shops at big, luxurious shopping malls. While taking into account the economic activities, FBR has made the decision to move gradually on CNIC conditions as in the first stage, only the big retailers will be targeted to increase tax collection at retail stages.
“We have forwarded new rules for bringing mega-retailer chains and shopping malls having covered area of 1,000 square yards to Ministry of Law for vetting. It will help to convey our message crystal clear that the FBR is not intended to enforce CNIC condition on small traders,” – the top official of FBR said while talking to The News.
FBR’s aim is to develop links at the sale points of big retailers and shopping malls, which are located in big areas.
By MISHAL ALI On OCT 1, 2019
0
Share
The FBR has decided to introduce a new set of rules for bringing shopping malls and mega-retailers outlets into registration through the point of sale system. This had been done to deliver a clear message to small traders on the basis of Computerized National Identity Cards (CNIC).
These machines will be installed at retail stores and shopping malls, they will be connected with the FBR system so, there is no risk of tax evasion. Future plans of FBR include planning of gift scheme for the customers through voting, who will receive computerized receipts of purchases through the installed machines.
FBR’s aim is to develop links at the sale points of big retailers and shopping malls, which are located in big areas. The aim is to target a few thousand mega-retailers, having shops at big, luxurious shopping malls. While taking into account the economic activities, FBR has made the decision to move gradually on CNIC conditions as in the first stage, only the big retailers will be targeted to increase tax collection at retail stages.
“We have forwarded new rules for bringing mega-retailer chains and shopping malls having covered area of 1,000 square yards to Ministry of Law for vetting. It will help to convey our message crystal clear that the FBR is not intended to enforce CNIC condition on small traders,” – the top official of FBR said while talking to The News.
