Traders holding assets exceeding one lakh rupees are now required to adopt a point-of-sale system as mandated by the Federal Board of Revenue (FBR).
These traders, categorized as tier one retailers, must install and link their systems with FBR’s as per the recent amendment to the Sales Tax Rules, 2006.
The amendment identifies traders and retailers who withhold tax under Section 236H of the Income Tax Ordinance 2001, specifically those withholding tax amounts equaling or exceeding Rs. 1 lakh, as Tier One retailers. FBR officials emphasized that these qualifying traders must integrate a point-of-sale system to ensure real-time sales monitoring and curb potential tax evasion.
