The Federal Board of Revenue (FBR) has introduced the Point of Sale (POS) invoicing system for major retailers.
Regarding the POS invoicing system, it is a real-time sales documentation system that will link the electronic systems at the outlets of all tier-1 retailers with the FBR via the internet. In addition, the retailers might not need to purchased new machines as they can simply download the invoicing app on their existing systems in a manner prescribed by the board.
Using this system will not only end periodic inspections by the Federal Board of Revenue but will also help retailers prepare their sales tax returns without much hassle.
Furthermore, FBR has divided Directorate of Internal Audit, Islamabad into two categories i.e. Directorate of Internal Audit-North (Customs), Islamabad and Directorate of Internal Audit-South (Customs), Karachi.
