ISLAMABAD According to The News, the Federal Board of Revenue (FBR) has stepped up its efforts to ensure tax compliance, ordering some 40,000 large retail establishments to link their sales data to the FBR system for required round-the-clock reporting.
Business premises may be sealed if noncompliance occurs.
A Statutory Regulatory Order (SRO) detailing the processes for sealing and de-sealing companies found to be in violation of these rules was released by the revenue authorities on Monday.
The number of Tier-1 merchants’ outlets has increased to 40,000 nationwide, while their brands total 11,000.
After discovering that these stores take a number of days to provide their data to the FBR, the tax authority decided to change the sales tax regulation.
