Lahore: The Federal Board of Revenue revealed the details of its Point of Sale Invoicing System in a publication on Friday.
This is a part of the government’s efforts to automate and digitise the taxation system. According to the shared details, the POS system is an online real-time system for documentation of sales that connects the computerised sales system of Tier-1 retailers to FBR’s system through the internet.
The retailers do not need to purchase any new machines to get linked with this system. They can get linked through an app.
A QR code will automatically get printed on an invoice generated through a sale by the retailer. The customers will be able to verify the payment of sales tax through the Tax Asaan App.
To incentivise the retailers, the publication said that adopting the POS system will end period inspections by FBR officials.
The system has already been tested in the outlets of 70 famous textile and leather brands. It will be implemented for restaurants in Islamabad and all shopping store chains across the country from November 1, 2019.
