FBR Obligates Reporting Sales Data to 40,000 Mega Stores
All 40,000 mega retail stores across Pakistan are now required to connect to the FBR system and submit the sales data within 24 hours.
Amendments to the Sales Tax Rules
According to the newest amendment, the retail giant stores must ensure that the sales information is submitted without delay, or else it may result in the closure of the store approved by the Commissioner of Inland Revenue, who will then deseal them.
Penalties for Non-Compliance
Retailers not reporting accurate data may be sealed but may gain retrial within a day through payment of a fine. They will not be spared as they are under obligation to tie up with. Any software-related issues would have to be fixed to comply with the new regulations.