ByIslamabad, Pakistan– The Federal Board of Revenue (FBR) is considering imposing significant fines on large retailers who are found to be issuing non-certified electronic invoices or receipts to consumers.
The FBR is drafting rules to penalize Tier-1 retailers who fail to accurately report sales tax to the FBR’s electronic system. A fine of Rs 0.5 million per non-certified receipt is being proposed, along with a reward of Rs 5,000 for consumers who report such violations. Business Recorder
To ensure correct reporting of sales, the FBR has mandated that Tier-1 retailers in the textile and leather sectors integrate their points of sale (POS) systems with the FBR’s electronic system. This ensures that sales data is reported to the FBR in real-time.
The FBR has identified four categories of Tier 1 retailers, including national or international chain stores, retailers in shopping malls, retailers with high electricity bills, and wholesaler-cum-retailers.
The FBR previously launched a POS invoicing prize scheme to promote tax compliance. However, the scheme was suspended in October 2022.
The proposed penalties aim to deter retailers from issuing non-certified receipts and ensure that the FBR receives accurate sales tax data.
