FBR to track sales at beauty parlours, bakeries
FBR to extend scope of Invoice Monitory System nationwide
Representational image. PHOTO: REUTERS
ISLAMABAD:
In order to curb theft of sales tax, the Federal Board of Revenue (FBR) has decided in principle to extend the scope of Invoice Monitoring System to beauty parlours, bakeries, grocery stores, and retail outlets.
The pilot project would be initiated in Islamabad in which electronic Invoice Monitoring System would be installed at the beauty parlours, bakeries, and grocery stores to figure out their actual sales.
The system would be applied all across the country after its successful launch in the federal capital.
According to the documents available with The Express Tribune, the decision has been taken at a high-level meeting of FBR. The meeting discussed in detail the Invoice Monitoring System installed in restaurants.
The meeting suggested that the Invoice Monitoring System would be updated and converted to a real-time system and its scope be further extended.
After the installation of the system, a copy of the invoice issued to the consumers would electronically reach the concerned FBR office through which the bureau’s sub-offices would not only know the actual sales of the outlet falling in their jurisdiction but would also have the data of sales tax charged on each consumer.
According to sources, the web-based Invoice Monitoring System had been installed at more than 300 restaurants and would be set up at other restaurants too.
Sources said that FBR had given the pilot project task to Regional Tax Officer (RTO) Islamabad and federal government through FBR had set the categories on the basis of electricity and gas bills threshold and tax was being collected on the basis of the said category.
It was further told that the web-based Invoice Monitoring System had fully become operational through which the computer systems of restaurants were being integrated and connected with FBR headquarters and the sales invoice data of restaurants was being transferred to FBR on a real-time basis.
The FBR officials expressed satisfaction over the system and maintained that it would increase tax collection from the restaurants.
In order to curb theft of sales tax, the Federal Board of Revenue (FBR) has decided in principle to extend the scope of Invoice Monitoring System to beauty parlours, bakeries, grocery stores, and retail outlets.
The pilot project would be initiated in Islamabad in which electronic Invoice Monitoring System would be installed at the beauty parlours, bakeries, and grocery stores to figure out their actual sales.
The system would be applied all across the country after its successful launch in the federal capital.
According to the documents available with The Express Tribune, the decision has been taken at a high-level meeting of FBR. The meeting discussed in detail the Invoice Monitoring System installed in restaurants.
The meeting suggested that the Invoice Monitoring System would be updated and converted to a real-time system and its scope be further extended.
After the installation of the system, a copy of the invoice issued to the consumers would electronically reach the concerned FBR office through which the bureau’s sub-offices would not only know the actual sales of the outlet falling in their jurisdiction but would also have the data of sales tax charged on each consumer.
According to sources, the web-based Invoice Monitoring System had been installed at more than 300 restaurants and would be set up at other restaurants too.
Sources said that FBR had given the pilot project task to Regional Tax Officer (RTO) Islamabad and federal government through FBR had set the categories on the basis of electricity and gas bills threshold and tax was being collected on the basis of the said category.
It was further told that the web-based Invoice Monitoring System had fully become operational through which the computer systems of restaurants were being integrated and connected with FBR headquarters and the sales invoice data of restaurants was being transferred to FBR on a real-time basis.
The FBR officials expressed satisfaction over the system and maintained that it would increase tax collection from the restaurants.