Islamabad: The Federal Board of Revenue (FBR) on Friday extended the deadline for point of sales (POS) online tax integration system installations for tier-1 retailers till August 31, according to news sources.
To avail the extended deadline, tier-1 retailers will have to furnish their willingness in writing to integrate their POS with the respective regional Large Taxpayers Units (LTU) and tax officers by August 20.
The original deadline for the POS integration with FBR’s system was December 15, 2019, but was extended to March 30, and later to April 30 and June 30 – in a bid to facilitate the retailers during the coronavirus outbreak in the country and the ensuing lockdown.
The FBR has devised a comprehensive strategy to install POS at tier-1 retailers who are, as per some estimation, evading taxes worth billions of rupees. Currently, over 44,000 shops have installed the POS systems – which FBR hopes to extend to over 16,000 retailers.
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