Islamabad: The Federal Board of Revenue (FBR) has prepared strict regulations for the business community, under which all sales tax-registered individuals will be required to connect to the FBR’s computerized system.
According to official documents, business premises will be mandated to install CCTV cameras, integrate debit and credit card machines, QR codes, and other digital payment methods with the FBR system. Businesses involved in online sales will also be required to link their websites, software, and mobile applications to the FBR.
Under the rules, the “integrated person” will be obliged to grant tax officers access to their business premises and records. Tampering with the electronic system will result in fines and penalties. Even in cases of internet or power outages, invoices must be uploaded within 24 hours.
To curb tax evasion, the FBR has decided to establish an enforcement network. Legal action will be taken against any invoice issued without a QR code or FBR number. Sales tax invoices will be required to carry a digital signature, QR code, and a unique FBR number.
Furthermore, businesses will be required to maintain electronic invoice records on a daily, weekly, and monthly basis, and store this data for a minimum of six years.
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