ISLAMABAD: As part of FBR’s drive to bring Tier-1 retailers/ restaurants under the tax net through POS invoicing system and after introduction of POS Prize Scheme, Regional Tax Office, Islamabad, sealed two prominent restaurants in Islamabad on account of issuing fake invoices/ receipts.

After determining the non-authenticity of the reported receipts through POS tracking software under an already devised and announced procedure, a team of RTO Islamabad led by Deputy Commissioner sealed two restaurants in Blue Area and Super Market and also imposed a penalty of Rs.0.5 million upon each.

It is pointed out that FBR has launched the Point of Sales Prize Scheme from 25th October. In the first phase, the Scheme has been introduced in Islamabad for Tier-1 restaurants, which will then be extended to all Tier retailers and finally across the entire country from the next month. Under the Scheme, citizens/ consumers who will report fake receipts through Tax Asaan APP to FBR will get varying cash rewards.

After verifying the fake receipts under a devised procedure, FBR will transfer the cash prizes directly into the bank accounts of the winners. The reported Tier-1 retailers/ restaurants will then be sealed for issuing fake receipts.

This important initiative aims at discouraging the fake invoices culture by ensuring that the due taxes are deposited in the national exchequer. FBR is committed to ensure tax compliance through effective enforcement of tax regulations.

Copyright Business Recorder, 2024