The new system enables real-time monitoring of sales and purchases, bolstering accountability.
ISLAMABAD, The Chairman of the Federal Board of Revenue (FBR) has announced stringent measures against violations of the Point of Sale (POS) system, including shop closures and hefty fines.
Speaking at the Senate Standing Committee on Finance, the Chairman emphasized that from the next fiscal year, taxpayers’ IT systems will be integrated with FBR’s digitization initiative through licensed integrators. This move aims to enhance transparency and curb fraud, replacing the previous open software system with a more secure FBR-controlled system.
The new system enables real-time monitoring of sales and purchases, bolstering accountability. Notably, penalties for POS system breaches have been escalated, with fines and shop closures now in effect. Previously fined at Rs 5 lakh, non-compliant establishments can now face a week-long closure in addition to fines.
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Senator Saleem Mandviwala and Senator Sherry Rehman raised concerns over fraudulent practices and advocated for legislation mandating card payments at major retailers, proposing penalties for shops experiencing payment link failureslandscape.
Chairman FBR reiterated that rigorous enforcement will target shops bypassing the POS system, threatening closure upon multiple violations in a day or week. A hefty fine of Rs 5 lakh will also be imposed per incident to deter non-compliance.
This crackdown underscores FBR’s commitment to modernize tax compliance and combat financial malpractice across Pakistan’s business landscape.
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