FBR adds 160 retailers to POS system

The Federal Board of Revenue (FBR) has added 160 big merchants to its point-of-sale (POS) system in October 2024, taking the total number of registered Tier-I retailers to 9,290.

Targeting purchases from Tier-I facilities like hotels and restaurants, the FBR had 9,130 shops registered in the POS system as of September 2024.

The FBR’s data, which was gathered by October 17, 2024, indicates that 676 restaurants and 507 shops in the leather and textile industries are among the 9,290 big retailers utilizing the POS system.

Furthermore, the Tajir Dost Scheme has about 64,000 registered traders. Only 575 traders have paid less than Rs1.3 million in taxes overall, indicating that tax payments are still low.

Two days prior to the statewide walkout by traders against increased taxes and excessive electricity bills in August, the FBR revised an SRO regarding the Tajir Dost Scheme.

“As the burden is paid by the salaried class, the authority would not “fight for non-filers under any circumstances,” according to Naeem Mir, Chief Coordinator of the Tajir Dost Scheme.

He stated that local trade representatives would be informed of the formation of a committee at the commissioner level, which would determine the tax rates for various markets and localities, as clarified by the chief coordinator.

According to media reports from last month, large merchants found to be providing clients with non-certified electronic invoices or receipts would face substantial fines from the FBR.