ISLAMABAD, October 28 2024: In a bold move to enhance tax compliance and combat the rampant issue of fake invoicing, the Federal Board of Revenue (FBR) has taken decisive action against Tier-1 retailers and restaurants in Islamabad. As part of their initiative to integrate the Point of Sale (POS) invoicing system, two prominent restaurants were sealed following the issuance of fraudulent receipts.
A team from the Regional Tax Office (RTO) Islamabad, led by the Fake InDeputy Commissioner, swiftly acted after identifying non-authentic invoices through the FBR’s advanced POS tracking software. The operations targeted restaurants located in the bustling Blue Area and Super Market, both of which now face a hefty penalty of Rs. 0.5 million each.
The crackdown aligns with the recent launch of the POS Prize Scheme on October 25th, designed to encourage transparency and accountability among retailers. Initially rolled out for Tier-1 restaurants in Islamabad, the scheme will expand to all Tier retailers nationwide next month. Under this initiative, citizens can report fraudulent receipts using the Tax Asaan App, with the potential to earn cash rewards. Once verified, the FBR will directly deposit these rewards into the bank accounts of those who assist in identifying tax evasion.
This proactive measure aims to dismantle the culture of fake invoicing that has plagued the sector, ensuring that tax revenues are accurately collected and deposited into the national treasury. “We are committed to enforcing tax regulations effectively,” an FBR official stated. “By encouraging citizen participation, we hope to foster a culture of compliance that benefits everyone.”
As the initiative unfolds, both consumers and businesses are urged to engage in this important effort. The FBR’s crackdown signals a clear message: integrity in invoicing is non-negotiable, and those who choose to operate outside the law will face serious consequences. With the POS Prize Scheme in full swing, Islamabad is poised to set a precedent for tax compliance that could resonate throughout the country.
