- Pakistan’s Federal Board of Revenue has clarified new electronic invoicing rules for importers, manufacturers, and wholesalers of fast-moving consumer goods.
- The new rules will apply from February 1, 2024.
- Taxpayers in these categories will be required to issue real-time electronic tax invoices and retain them for six years.
- The expectations on taxpayers regarding electronic invoicing were set out in S.R.O. 1525 (1)/2023 in November 2023.
- S.R.O. 28(I)/2024 confirms the February 1 implementation date and allows registered persons to request an extension if they can justify the need for extra time.
- Fast-moving consumer goods refer to consumer goods supplied in retail marketing based on daily consumer demand, excluding durable goods.
Source: answerconnect.cch.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
