loader image

LTO Karachi, PBC discuss POS integration

KARACHI: A team of tax officials from the Large Tax Office (LTO) Karachi visited the Pakistan Business Council (PBC) on Wednesday to discuss the integration of Tier-1 retailers, a statement said.

The purpose of the visit was to listen and redress the grievances regarding online integration of Tier-1 retailers/Point of Sale (POS) with the Federal Board of Revenue (FBR) system, it added.

The LTO Karachi team comprised of officers, Shakeel Ahmad Kasana, commissioner of Inland Revenue (IR); Aijaz Hussain, additional commissioner of IR; Shoukat Ali Changezi, additional commissioner of IR; Abdul Hameed Mangrio, deputy commissioner of IR; and Amjad Ali Moroojo, audit officer of IR.

The representatives of the PBC included Ehsan A Malik, chief executive; Samir S Amir, director research; and Aman Chanchi from the  Unilever Pakistan.

The commissioner IR briefed the members regarding scope and purpose of POS integration. It was apprised to the members that the Point of Sale (POS) integration of retailers does not involve new tax, rather it gives benefit of reduced rate of sales tax to the consumers who buy the goods from integrated Tier-1 retailers.

Mangrio gave a formal presentation: followed by the question-answer session.

The delegation requested the members to encourage the Tier-1 retailers to get integrated with the FBR system for ease of reporting of sales and avoid unnecessary documentation, besides enjoying reduced rate of tax on their supplies.

The members of the council appreciated the outreach efforts of the FBR to remove the misconception and misgivings regarding online integration of retailers with the FBR system.

They appreciated the system and said the Pakistan Business Council always encouraged to promote documentation of the economy and Point of Sale (POS) is a right step in this direction.

They also assured their active engagement for making the Point of Sale integration a success for the larger interest of the country and the documentation of the economy.

courtesy: bolnews.com

Leave a Reply

Your email address will not be published.