FBR slaps penalties on non-compliant retailers (Tehzeeb Bakers and Metro Shoes)

[Azure]

FBR slaps penalties on non-compliant retailers

FBR-Islamabad imposes Rs1 million penalty each on Tehzeeb Bakers and Metro Shoes for failing to connect their retail outlets with POS system
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ByShahzad Paracha

ISLAMABAD: The Federal Board of Revenue’s Large Taxpayers’ Office (LTO)-Islamabad has imposed Rs1-million penalty each on Tehzeeb Bakers and Metro Shoes for failing to connect their retail outlets with FBR’s Point of Sale (POS) system.
According to sources, POS integration is mandatory for all major retailers of the country, as prescribed under the Sales Tax Act, 1990. It is used to share real-time reporting of retailers’ sales to FBR, besides monitoring the overall collection of sales tax.
Metro Shoes is one of the major retailers of ladies branded shoes and bags, having around 40 sale outlets across 24 cities of Pakistan, whereas Tehzeeb Bakers has eight branches spread across Rawalpindi and Islamabad.
Sources said that both retailers fall under the category of tier-1 retailers, as defined under the sales tax law. However, despite repeated notices and reminders from the tax office, both Tehzeeb Bakers and Metro Shoes showed persistent non-compliance and failed to integrate their outlets with computerized POS systems.
According to sources, the deadline for all tier-1 retailers in the country to connect their POS with FBR was 31st August. But some tier-1 retailers have still not fulfilled their legal responsibility and are avoiding installation of POS systems in order to suppress their sales and to evade the payment of sales tax to the national exchequer.
Sources confirmed that penalties would also be imposed on other defaulters in this category in the coming days, adding that those retailers who do not comply even after imposition of penalty would find their outlets and business premises sealed by LTO.

FBR slaps penalties on non-compliant retailers

FBR-Islamabad imposes Rs1 million penalty each on Tehzeeb Bakers and Metro Shoes for failing to connect their retail outlets with POS system

profit.pakistantoday.com.pk

 

[Bouncer]

ISLAMABAD: The Federal Board of Revenue’s Large Taxpayers’ Office (LTO)-Islamabad has imposed Rs1-million penalty each on Tehzeeb Bakers and Metro Shoes for failing to connect their retail outlets with FBR’s Point of Sale (POS) system.

1. PKR 1Million fine is a joke. Don't know much about Metro shoes but pick any branch of Tehzeeb and I am sure they sell more than 1Million within ONE busy evening or lunch time. Fine should be around 1 Billion on these tax chors.
2. People need to be educated that these big retailers, traders etc are STEALING from common people by not depositing GST that is actually collected from COMMON people. Further if a daily wager has to pay 12.5% INCOME tax on petrol, phone, electricity and everything under the sun, then why can't these big retailers pay? Boycott these thieves.

 

[Enigma SIG]

1. PKR 1Million fine is a joke. Don't know much about Metro shoes but pick any branch of Tehzeeb and I am sure they sell more than 1Million within ONE busy evening or lunch time. Fine should be around 1 Billion on these tax chors.
2. People need to be educated that these big retailers, traders etc are STEALING from common people by not depositing GST that is actually collected from COMMON people. Further if a daily wager has to pay 12.5% INCOME tax on petrol, phone, electricity and everything under the sun, then why can't these big retailers pay? Boycott these thieves.

Private hospitals are out of the tax net too. A normal consultancy with a specialists costs a minimum of 2500 per session. Most consultants do well over 15-20 per day on a CASH basis. Most do not even accept cards because they'll have to show these transactions which are liable for taxation.

 

[Bouncer]

Private hospitals are out of the tax net too. A normal consultancy with a specialists costs a minimum of 2500 per session. Most consultants do well over 15-20 per day on a CASH basis. Most do not even accept cards because they'll have to show these transactions which are liable for taxation.

This "we don't accept cards" thing is such a scam. Educated middle class needs to wake up and take this up as an issue like a social movement. Boycott these thieves and I am sure within days all of these will get in line.

 

[Enigma SIG]

This "we don't accept cards" thing is such a scam. Educated middle class needs to wake up and take this up as an issue like a social movement. Boycott these thieves and I am sure within days all of these will get in line.

I have stopped using cash altogether, don't carry it except rare circumstances where there's no alternative. I was cashless in 2008 in the UK and here we are in Pakistan where shops tell me they don't accept cards. Pfft.