FBR Allows Big Retailers to Collect Re 1 Per Invoice From Customers
A separate head of account, “POS Service Fee”, will be amended in the sales tax return form
Federal Board of Revenue (FBR) has allowed big retailers to collect Re 1 per invoice from their customers to keep track of the sales tax.
All T-1 retailers will collect Re 1 from their consumers under invoice tax which will help in maintaining the record of sales tax.
The record of the invoices will be deposited by all retailers with FBR every month which will be used in the lucky draw for taxpayers.
A separate head of account, “POS Service Fee”, will be amended in the sales tax return form.
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According to Finance Minister Shaukat Tarin, the government is formulating a strategy to distribute Rs 1 billion monthly and Rs 12 billion annually to the sales taxpayers through lottery.
