Service charge

Re1 service charge on all invoices: FBR rebuts misinformation on social media – Business & Finance

ISLAMABAD: The Federal Board of Revenue (FBR) has strongly refuted the misinformation spread on social media against Re1’s proposed service fee to be collected on all invoices issued by Tier 1 retailers integrated into FBR’s electronic reporting system real-time sales.

It is insinuated that the service charge rate was 1% instead of 1 rupee per bill only. This baseless propaganda by certain interest groups is deeply malicious in intent and definitely suspicious in content. The nominal service charge @ Re.1 per invoice of any denomination would be levied under Section 76 of the Sales Tax Act 1990.

This small amount will be used to ensure the onboarding of all Tier 1 retailers, promote an ongoing advertising campaign and fund a prize program for all customers who duly check their invoices to determine the validity and authenticity of invoices. emitted by the integrated level 1. retailers, FBR said.

It is pertinent to mention that FBR has already launched an aggressive sensitization campaign across all mainstream social, electronic and print media to educate the general public about a prize ballot worth Rs 53 million to be held every month. at FBR headquarters, Islamabad. This first computer ballot on POS Prize Scheme will be held on January 15, 2022, announcing 1007 lucky winners.

Therefore, the unsubstantiated campaign above appears to have been launched by interest groups that tend to oppose POS integration. They continue to collect sales tax from the general public, but are still reluctant to deposit the same into the public treasury. FBR reaffirmed its unwavering determination to pursue the integration of Tier 1 retailers across the country with vigor and an indomitable spirit.

Copyright Business Recorder, 2021