As part of the deal, FBR has extended the deadline for online integration of Pakistan’s large retail chains till the end of November. The agreement had been reached between Pakistan’s retail chain stores and the Federal Board of Revenue (FBR) this week, representatives of traders and officials of the FBR confirmed to The Express Tribune. It is for the second time in the past seven months that the FBR and large retail chain stores have reached an understating. The FBR has entered into the deal with large retailers on the Point of Sales (POS) installation - a real-time invoicing system for documentation of sales being installed by large retail stores across Pakistan. It is not clear whether the FBR took the International Monetary Fund (IMF) into confidence before striking the deal.

Source: The Express Tribune October 18, 2020 03:22 UTC