Islamabad: The Regional Tax Office, FBR seals two popular restaurants for submitting fake invoices/receipts as part of FBR’s effort to bring Tier-1 Retailers/Restaurants into the tax net through the POS Invoicing system and following the launch of the POS Prize Scheme.
A Team from RTO Islamabad led by the Deputy Commissioner fbr seals two restaurants in Blue Area and Super Market and fined each of them Rs. 0.5 million after using POS tracking software to determine the inauthenticity of the reported receipts in accordance with a previously developed and announced procedure.
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The Point of Sales Prize Scheme was introduced by FBR on October 25. The Scheme was launched for Tier-1 eateries in Islamabad during the first phase. From next month onward, it will be expanded to all Tier shops nationwide.
Citizens and customers will receive a variety of monetary awards under the scheme if they submit fraudulent invoices to the FBR using the Tax Asaan App.
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FBR will deposit the cash awards straight into the winners’ bank accounts using a process that has been developed to validate the phony receipts. After that, the reported Tier-1 retailers and restaurants would be closed for producing phony receipts.
By guaranteeing that the necessary taxes are transferred into the national exchequer, this significant endeavor seeks to deter the culture of fraudulent bills. By effectively enforcing tax laws, FBR is dedicated to guaranteeing tax compliance.