Share:The Federal Board of Revenue (FBR) has clamped down on top-tier retailers for not only failing to meet their Point of Sales (POS) targets but also hiding their profits to evade taxes. Undoubtedly, instances of evasion should be punished especially considering half of the burden of taxes is pawned off to the end consumer by most retailers. Already, retailers pawn off the burden of paying sales taxes to the end consumer anyway. In the end, we find that they are guilty of evading taxes completely, by failing to pay direct taxes on profits, and avoiding them in the same breath by transferring the responsibility onto the customer. If more POS are tied to the FBR, and greater taxes are paid, then higher refund claims can also be made without the fear of them being rejected.

Source: The Nation August 05, 2021 01:52 UTC