ISLAMABAD: The Federal Board of Revenue (FBR) has issued a procedure for the vendors/integrated enterprises intended to obtain licenses for operating online integration of businesses.

The FBR has issued SRO 1845(l)2023 to amend the lncome Tax Rules, 2002.

Member Digital Initiatives shall appoint an officer not below the rank of an Additional Commissioner (BPS-19) to be the convener of the licensing committee.

The licensing committee shall evaluate the applications and make recommendations to Member Digital Initiatives for the renewal of the license.

Multinational companies: FBR decides to implement e-ST integration system

The convener of the licensing committee as appointed by the Member Digital Initiatives shall be responsible for overall supervision of the system and the steps taken to address problems encountered during operation of the systems.

On receiving the application, the Board shall, through its nominated committee, determine accreditation of the brand, model and specification of the EFD, which means a system composed of one Sale Data Controller (SDC) and at least one Point of Sale (POS) connected together.

During the accreditation process, the supplier must provide licensing committee with access to information and equipment and any other assistance reasonably required for carrying out the process.

The licensing committee may revoke the accreditation of vendor if the brand, model and specification of the EFD ceases to comply with the determined parameters. The notice of revocation shall be sent to the vendor specifying the reasons for revocation and also to the integrated supplier operating such EFD. The licensing committee shall also immediately remove the particulars of the EFD from its website.

The licensing committee shall recommend or reject an application within fifteen days of date of submission of the application, specifying reasons for recommending or rejection of any application under these rules, FBR added.

Copyright Business Recorder, 2023