The FBR in Pakistan has announced major changes to the electronic invoicing system. The changes will initially impact specific consumer goods, and businesses involved in the supply chain of these goods are now required to issue electronic sales tax invoices through the FBR-approved system. The announcement introduces “integrated suppliers” and requires registered buyers to integrate into the new FBR system. The new system implements a real-time verifiable electronic invoice system using structured JSON format with unique identifiers, and extends the document storage period to six years. The announcement also mandates certain registered persons to transmit sales tax invoices electronically, including importers, manufacturers, wholesalers, distributors, and wholesaler-cum-retailers of fast-moving consumer goods. The effective date for these changes is February 1, 2024, with the option for registered persons to apply for an extension under plausible circumstances. “Fast-moving consumer goods” refers to consumer goods with high daily demand, excluding durable goods.
Source SNI
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