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.