ANL 34.00 Increased By ▲ 0.90 (2.72%)
ASC 14.90 Increased By ▲ 0.55 (3.83%)
ASL 25.10 Increased By ▲ 0.62 (2.53%)
AVN 92.20 Decreased By ▼ -0.30 (-0.32%)
BOP 9.14 Increased By ▲ 0.08 (0.88%)
BYCO 9.85 Increased By ▲ 0.15 (1.55%)
DGKC 134.70 Increased By ▲ 2.51 (1.9%)
EPCL 50.62 Increased By ▲ 0.52 (1.04%)
FCCL 24.63 Increased By ▲ 0.33 (1.36%)
FFBL 25.86 Increased By ▲ 1.46 (5.98%)
FFL 15.49 Increased By ▲ 0.47 (3.13%)
HASCOL 10.56 No Change ▼ 0.00 (0%)
HUBC 86.33 Increased By ▲ 1.23 (1.45%)
HUMNL 7.02 Increased By ▲ 0.27 (4%)
JSCL 25.65 Increased By ▲ 0.40 (1.58%)
KAPCO 41.55 Increased By ▲ 2.80 (7.23%)
KEL 4.02 Increased By ▲ 0.04 (1.01%)
LOTCHEM 14.45 Increased By ▲ 0.02 (0.14%)
MLCF 46.42 Increased By ▲ 0.54 (1.18%)
PAEL 37.25 Increased By ▲ 0.55 (1.5%)
PIBTL 11.70 Increased By ▲ 0.27 (2.36%)
POWER 10.25 Increased By ▲ 0.10 (0.99%)
PPL 90.90 Increased By ▲ 1.20 (1.34%)
PRL 26.86 Increased By ▲ 0.61 (2.32%)
PTC 8.71 Increased By ▲ 0.11 (1.28%)
SILK 1.35 No Change ▼ 0.00 (0%)
SNGP 42.71 Increased By ▲ 1.31 (3.16%)
TRG 146.10 Increased By ▲ 3.00 (2.1%)
UNITY 30.20 Increased By ▲ 0.41 (1.38%)
WTL 1.41 Decreased By ▼ -0.01 (-0.7%)
BR100 4,965 Increased By ▲ 76.98 (1.57%)
BR30 25,754 Increased By ▲ 477.72 (1.89%)
KSE100 45,837 Increased By ▲ 558.82 (1.23%)
KSE30 19,174 Increased By ▲ 275.54 (1.46%)
Business & Finance

PoS Integration: FBR signs MoU with Chain Stores Association

  • FBR said that this development provides for incentives to the retailers who voluntarily integrate with FBR’s system by 30th November 2020.
29 Oct 2020

The Federal Board of Revenue (FBR) has signed a Memorandum of Understanding (MOU) with the Representatives of the Chain Stores Association of Pakistan (CAP).

Under the MoU, the parties have ensured effective and efficient integration of Point of Sales (PoS)/ tills installed at Tier 1 retailers’ locations all across the country. The foundational principle of this MoU and the benefits agreed to by FBR is complete integration by Tier 1 Retailers with FBR’s system by November 30, 2020.

FBR said that this development provides for incentives to the retailers who voluntarily integrate with FBR’s system by 30th November 2020.

In order to facilitate smooth integration and collectively manage any bottlenecks, CAP committees will be formed at central and regional levels. CAP assured FBR that all Tier 1 integrated units/retailers would duly and fully integrate all their tills/PoS without any exception by November 30, 2020.

The retailers also assured that all of their branches would be fully integrated by then.

The association will also augment FBR’s efforts to improve the PoS system and make it foolproof. CAP will also assist FBR in the identification of all Tier 1 and Tier 2 Retailers who are liable to be integrated and have not yet integrated.