ISLAMABAD: The Federal Board of Revenue (FBR) has issued a list of 113 unregistered retailers (Tier-1), who are required to be integrated with the FBR’s Point of Sale (POS) system.
The FBR has issued Sales Tax General Order (STGO) 18 of 2022, here on Saturday.
According to the FBR, these 113 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 297 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 drastically decreased from 297 to 113 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 June 10, 2022.
FBR issues list of 297 unregistered Tier-1 retailers
According to the FBR, in order to operationalize this important provision of law, a system-based approach has been adopted
The procedure of exclusion from this list of 113 identified Tier-I shall apply as laid down in STGO 17 of 2022 dated May 13, 2022.
Copyright Business Recorder, 2022
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