ISLAMABAD: The number of unregistered retailers (Tier-1) has decreased from 1,358 to 185 retailers, who are required to be integrated with the Federal Board of Revenue (FBR)’s Point of Sale (POS) system.
The FBR has issued sales tax general order (STGO) 11 of 2022, here on Tuesday.
According to the FBR, these 185 identified retailers are still operating out of the documented regime and not depositing collected sales tax from consumers into the national kitty.
Last month, the FBR had issued a list of 1,358 big retailers (Tier-1), which are required to be integrated with the FBR’s POS system and were denied 60 percent input tax credit in case of non-integration.
The number of big retailers (Tier-1) has been drastically decreased from 1,358 to 185 retailers, which are required to be integrated with the POS system.
The board has decided to raise sales tax demand against these big retailers (Tier-1), who are still not integrated with the FBR’s POS system by the deadline of April 10, 2022. According to the FBR, in order to operationalise this important provision of law, a system-based approach has been adopted.
Copyright Business Recorder, 2022