- Tier-1 Retailers who do not integrate with FBR’s POS System will have their input tax reduced by 60%
- Retailers with deductible withholding tax exceeding Rs. 100,000 in the past twelve months are classified as Tier-1 retailers
- Tier-1 retailers must be registered and integrated with FBR’s system for real-time sales reporting
- A list of identified Tier-1 retailers has been published on FBR’s website for integration by May 31, 2024
- Tier-1 retailers can apply for exclusion from the list if they believe they do not meet the criteria
- Input tax claims of Tier-1 retailers who do not integrate by June 2024 will be disallowed without further notice, creating a tax demand.
Source: download1.fbr.gov.pk
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.
