The Federal board of revenue (FBR) has launched various campaigns to make retail and restaurant business owners use POS software. The idea is to regulate the entire business fraternity in Pakistan to promote healthy business practices and a strong taxation system.
In Pakistan, businesses are performed based on traditional practices. So it was quite difficult for FBR or any other POS software vendor to make their case to Tier-1 retailers in Pakistan.
Moreover, another difficulty in this regard is the lack of awareness and knowledge in people about the use of technology in business operations.
In this article, we will focus on commonly asked questions about FBR integrated POS software. And other questions regarding FBRs laws.
5 Frequently Asked Questions About FBR Integrated POS Software:
- What is the disadvantage to or penalty for tier-1 retailers who fail to integrate FBR integrated POS software?
- What is the advantage to tier-1 retailers who integrate FBR integrated POS software?
- What is the penalty if an integrated retailer tries to bypass the system and fails to report any sales to FBR?
- Is there a penalty for a software vendor who provides for sale skimming in the POS software provided to the retailer?
- Should a tier-1 retailer also report his online sales to FBR?
1. What Is The Penalty For Tier-1 Retailers Who Fail To Integrate FBR Integrated POS Software?
A specific penalty has been provided for retailers failing to integrate with FBR integrated POS software. A tier-1 retailer failing to integrate shall be liable to a penalty of Rs. 1 million, and in the event of continuing failure may face sealing of his premises and embargo on his sales.
Further, the disadvantage of failure to integrate is that the adjustable input tax of the retailer shall be reduced by 15%.
2. What Is The Advantage To Tier-1 Retailers Who Integrate FBR Integrated POS Software?
Every retailer that falls under the Tier-1 retailer category has to integrate FBR with POS software. All the integrated retailers will be named for FBR’s prize scheme.
Furthermore, all the integrated retailers will enjoy a 60% input tax on sale tax returns from FBR.
3. What Is The Penalty If An Integrated Retailer Tries To Manipulate The POS Software And Fails To Report Any Sales To FBR?
Such retailers that try to manipulate the FBR integrated POS software and fail to report FBR shall face a penalty of up to PKR 500,000 or 200% of the tax amount involved, whichever is higher. Such retailers may also be sentenced to imprisonment which may be extended to two years.
4. Is There A Penalty For A Software Vendor Who Provides Sale Skimming In The POS Software Provided To The Retailer?
Any person who abets or connives with the retailer in the suppression of sales or non-reporting of sales may be sentenced to imprisonment for a term that may extend to one year and also to a fine of up to PKR 200,000. Software vendors providing for skimming in the software shall be subject to these penalties.
5. Should A Tier-1 Retailer Also Report His Online Sales To FBR?
For online sales, the tier-1 retailer should integrate the utility provided by FBR into its website
and ensure that the sales are reported to FBR and FBR invoice number and QR code are printed on the invoice generated and sent to the online customer.
CISePOS, The Best FBR Integrated POS Software In Pakistan:
CISePOS is the best FBR integrated POS software in Pakistan. CISePOS offers various other integrations that are designed to help retail and restaurant businesses to increase the efficiency of their business operations and provide a better experience to their customers.
Moreover, CISePOS offers 24/7 customer support that helps in providing seamless operations of your business activities. It will also keep you updated with new features and tools. The cloud feature of CISePOS offers remote accessibility along with secured data in our cloud database.
Have your FBR integrated POS software now.