FBR Integrates Nearly 9,000 Big Retailers into POS System

Pakistan, July 19, 2024: The Federal Board of Revenue has integrated nearly 9,000 big retailers into its Point of Sale (POS) system. The process is part of FBR’s ongoing campaign to curb tax evasion and streamline tax collection.

The integration process started a few months ago and has successfully reached the first milestone. This connection between large-scale businesses and POS systems will help FBR monitor sales transactions efficiently in real-time.

Also read: FBR Prepares To Set Monthly Tax Rates Under Tajir Dost Scheme.

FBR Chairman, Mr Asim Ahmad, while explaining the significance of this development, stated, “The integration of these retailers into the POS system is a game-changer for our tax administration. It will not only enhance revenue collection but also foster a culture of transparency and accountability within the retail sector.

Relevant necessary technical training and support have been provided to retailers for a smooth transition process into the new system. Integration to POS will mitigate the issues related to manual record-keeping and reduce the chances of tax records.

FBR will further expand its POS network and integrate more retailers in the coming months. This will revolutionize the retail landscape by ensuring business operations comply with tax regulations.