540b invoices issued through POS in one year

F.P. Report

ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday said that almost 540 billion invoices have been issued through the Point of Sale (POS) system in one year.
Director General Automation Abdul Wahid said this during the 2nd day of a workshop titled “Digitalization of Taxes in Pakistan” jointly organized by FBR and the United Nations Economic and Social Commission for Asia and Pacific (UNESCAP).

Addressing the participants he said that almost 50 million invoices were issued on a monthly basis. He said in order to improve and expand the system steps are being taken.

FBR senior official said that the use of technology in Pakistan is less as compared to other developed countries adding that the FBR is trying to make tax and tax matters easier.

He urged the private sector to put their efforts to improve the system and minimize the loopholes.

“We should benefit from other countries’ experiences in the digitization of the system and adopt their reforms to make the tax system easy and convenient for the people” he added.

He appreciated the UNESCAP for sharing important information regarding digitalization.

He said that global experts and their experiences will help us to set a new path and this is our first step towards digitalization. He further said that we are in touch with international experts and in case of any difficulty we are supported in every way.

Meanwhile, the foreign experts also briefed the authorities regarding the e-withholding tax and discussed the difficulties and complications of the e-withholding tax and its implementation.

The conference also discussed the use of artificial intelligence (AI) to improve POS systems.(APP)