Islamabad: The Federal Board of Revenue (FBR) has decided to increase sales tax for the tier-1 retailers who are not integrated with the board’s Point of Sale (POS) system by July 10, according to a news story published on July 6.
The FBR has issued a list of 101 unregistered tier-1 retailers and a Sales Tax General Order (STGO) 1 of 2022. As per the details, the list included identified tier-1 retailers who are not depositing collected sales tax from the consumers and are operating outside the regime. Such retailers will have time till July 10 to integrate with the POS system and avoid increased sales tax. According to a statement by the FBR, the input tax claim of all the notified tier-1 retailers, who have not integrated, will be disallowed upon the filing of the sales tax return for June.
Iqra holds BS in International Relations and is passionate about writing engaging content on trending real estate topics. When not working, she is either spending time with family, shopping, or discussing shows & movies.
