KARACHI: Federal Board of Revenue (FBR) Corporate Tax Office (CTO) has taken strict measure by sealing three retail shops on non-compliance for installing Point of Sale (POS) machines.
According to details, the Corporate Tax Office (CTO) Karachi sealed three outlets, included: Salam’s and Sons; Kurta Corner; and Bin Dawood.
It is pertinent to mention here that the FBR has introduced a POS integration system for Tier-1 retailers to monitor the sales of big retailers across the country.
As per Sales Tax Rules, 2001 all Tier-1 retailers are required to integrate their retail outlets with the FBR computerized system for real time reporting of sales in the mode and manner prescribed in the rules.
Kurta Corner
Dr. Aftab Imam, Chief Commissioner, CTO Karachi issued directions in this regard. Therefore, in order to integrate Tier-1 retailers the tax office issued show cause notices to all big retailers to voluntarily integrate with the POS system.
As a result of this drive, several Tier-1 retailers integrated with the system. However, those registered persons who failed to integrate with the POS system will be sealed in the next phase of the POS integration drive.
According to a statement, all Tier-1 retailers had been directed to voluntarily integrate with the POS system at once. “In case of non-integration with the FBR’s computerized system i.e. POS, strict action shall be taken across the board under the provisions of Sales Tax Act, 1990,” it added.
