The Federal Board of Revenue (FBR) has decided to bring beauty parlours, bakeries, grocery stores, and all other retail outlets under an Invoice Monitoring System to check their tax and to ensure that no sales tax theft is taking place at these stores.
As per reports, the FBR is going to launch its pilot project in Islamabad from next month. Under the plan, the Invoice Monitoring System will be installed at all commercial beauty parlours, bakeries, and grocery stores in the capital to record their actual sales. The project would gradually be extended across the country after its trial launch.
The system works in a manner that whenever concerned outlets issue a copy of the invoice to a customer, an electronic copy will reach the linked FBR office. This will help the bureau keep a track of the actual sales and the amount of sales tax charged on each bill.
The FBR officials expressed satisfaction over the system and hoped that it will help increase the revenue collection.
Most parlours and grocery stores already charge tax so it is unlikely that the prices will be increased. However, this system will ensure that the tax you’ve paid reaches the relevant authorities and is not stolen along the way.
