Point-of-sale invoice verification increases 62.7% in February – Business
Published on March 30, 2022 12:32 p.m.
During the month of February, approximately 249,000 invoices were verified.
ISLAMABAD (APP) – Bills verified by customers, who shopped at outlets integrated with the Federal Board of Revenue’s (FBR) point-of-sale (POS) system, increased by 62.7% over the of February 2022 compared to last month (January).
During the month of February, approximately 249,000 invoices were verified by customers who shopped at outlets integrated with the FBR POS system compared to 153,000 in January 2022, according to the monthly update and economic outlook of March 2022 published by the Ministère des Finances.
According to the report, the ongoing campaign and awards program continued to gain momentum as the numbers rose.
Meanwhile, the number of customers who successfully verified their bills also increased from 27,000 in January to around 39,000 in February, showing a growth of 44.4%.
The report called it a phenomenal increase in audience participation and expressed hope that it would likely increase day by day.
It is pertinent to mention here that FBR had launched an intensive awareness campaign on national mainstream media to educate and urge consumers to ensure that the tax collected from them at the point of sale is deposited in the Treasury and not pocketed by the retailers themselves.
The campaign also includes a prize program worth Rs 53 million to be disbursed among 1007 lucky winners through a transparent computerized ballot held on the 15th of every month at the RBF headquarters in Islamabad.
Following strict enforcement by FBR Field Formations across Pakistan, out of approximately 4200 identified as Tier 1 retailers, over 3600 have already integrated their business operations with FBR POS System.
Their 17,000 outlets with over 19,500 tellers are fully integrated with the POS system, allowing FBR to digitally monitor their sales and thus ensure that the sales tax collected from customers is actually deposited. to the Treasury, without fail, he added.
Meanwhile, FBR is set to launch another ready-to-use digital tax base broadening intervention.
FBR has already collected information from various sources on the assets and expenses of people who are not covered by the tax net. This information would be made available to these individuals through FBR’s “Tax Asaan” portal.
The council has taken another initiative to facilitate the filing of tax returns by new taxpayers for broadening the tax base by signing a memorandum of understanding with the Tax Bar of Pakistan during the first week of February of this year.