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ISLAMABAD: The Federal Board of Revenue (FBR) has extended the scope of registration to retailers, who have acquired point of sale (POS) machines for accepting payment through debit or credit cards from banking companies or any other digital payment service providers authorised by the State Bank of Pakistan (SBP).

In this connection, the FBR has issued instructions to the field formations here on Monday regarding POS Integration - Operationalization of Section 2(43A)(d) of the Sales Tax Act, 1990.

The FBR said that refer to Sales Tax General Order 01 of 2021, whereby, a total of 6,763 Sales Tax Registered Persons (STRAs) were notified to be Tier-I Retailers (T-1 Retailers) and asked to integrate with the FBR's system for real-time monitoring of their sales or get themselves excluded by applying to the Commissioner concerned as per the set procedure and timelines, failing which 60 percent of the input claimed would be denied as stipulated in section 8B of the Sales Tax Act 1990.

The list of 6,763 sales tax registered persons was sifted from system generated list of 18,814 taxpayers, which was shared with Field Formations for due diligence and application of mind to avoid any undue hardship for taxpayers.

The strategy devised has created some stir and is likely to yield positive results.

In the same vein, the data of integratable Tier-I Retailers as per section 2(43A) (f) has been collected from POS machines sponsoring banks.

The section 2(43A)(f) of the Sales Tax Act covers retailers, who has acquired point of sale for accepting payment through debit or credit cards from banking companies or any other digital payment service provider authorised by the SBP.

The data so received from banks has been sorted Formation-wise to create lists of registered persons and persons liable to be registered for sales tax purposes.

At this point, the list of registered persons is being sent to respective Formations to undertake due diligence and application of mind so that no undue cases get included in the upcoming STGO, which would eventually end up denying 60 percent of the input claimed by them next month. The results of the due diligence undertaken be communicated on following format: by specifying the name of the POS machine acquirer; STRN and reason why not Integratable T-1 R.

The second category of taxpayers liable to be registered for Sales Tax and consequently, integrated would be dealt within due course. The required information be supplied by August 25, 2021, the FBR added.

Copyright Business Recorder, 2021

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