- Pakistan is modernizing its tax systems, particularly for FMCG sectors
- FBR mandated electronic invoicing for sales tax transactions starting February 1, 2024
- Push towards electronic invoicing began in late 2023 for transparency and tax compliance
- FBR has not approved software providers for e-Invoicing, leading to challenges for businesses
- FBR released a notification on January 10, 2024, allowing businesses to apply for extensions
- Transition to e-Invoicing is essential for modern tax compliance in Pakistan
- Businesses urged to seek professional advice and stay informed about FBR guidelines
- Compliance with e-Invoicing regulations is ongoing and requires attention and action.
Source: rtcsuite.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.
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