On November 10, 2023, Pakistan’s Federal Board of Revenue (FBR) announced significant changes in the electronic invoicing system, initially impacting specific consumer goods. Manufacturers, importers, wholesalers, and distributors of immediate consumer goods are now mandated to issue electronic sales tax invoices via the FBR-approved system.
Highlights of this release include the allowance for “integrated suppliers” to begin declaring invoices on the central platform. Additionally, registered buyers who receive electronic notifications are required to integrate into the new Federal Board of Revenue (FBR) system.
The system works by the FBR implementing a real-time verifiable electronic invoice system. Invoices are required to be sent in a structured JSON format, each assigned a unique identifier. Moreover, the document storage period has been extended to 6 years.
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