Federal Board of Revenue (FBR) and Chain Stores Association of Pakistan (CAP) has signed a Memorandum of Understanding (MOU)to ensure efficient and effective point-of-sale (PoS) / Tier-1 retail installations across the country.
A statement issued after the signing of MoU states: “Today’s achievement is encouraging retailers to volunteer to integrate with the FBR system by November 30, 2020. To facilitate smooth integration and collective management of any bottlenecks, CAP committees will be formed at central and regional levels.”
CAP has given assurance to Federal Board of Revenue that all Tier 1 units / retailers will fully integrate their tillage / point of sale with no exceptions by November 30, 2020.
The association will also increase FBR’s efforts to improve the PoS system and ensure it is foolproof. In addition, the FBR CAP will help identify all Tier 1 and 2 retailers that are vulnerable to a merger but have not yet registered.
The guiding principle of this MOU and FBR Approved Benefits is the full integration of Tier 1 retailers with the FBR system by November 30, 2020.
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