- FBR integrates FMCG sector with digital invoicing system to enhance transparency and compliance
- Integration aims to streamline tax collection and improve documentation
- Sales Tax General Order No 2 of 2024 issued on December 17, 2024, builds on earlier mandate for electronic invoicing
- Phased, system-based approach for operationalizing provisions
- Phase 1 includes integration of FMCG manufacturers and importers
- List of 107 identified FMCG manufacturers and importers published on FBR web portal
- Entities must complete integration by December 31, 2024
- Entities can apply for exclusion from the list through the Commissioner of Inland Revenue
- Chief Commissioners-IR to appoint focal persons to coordinate with PRAL for integration targets
- Weekly progress reports required from officials to IR Operations Wing
- Initiative expected to increase transparency and efficiency in tax collection within FMCG sector
Source: pkrevenue.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.
