FBR issues new rule: online integration of businesses

FBR issues new rule: online integration of businesses

ISLAMABAD: The Federal Board of Revenue (FBR) has made it compulsory for the different categories of integrated businesses and enterprises including hotels/restaurants, hospitals, medical practitioners/consultants, courier/cargo services, pathological laboratories, health clubs/gyms and accountants to integrate online with the FBR's computer system.

The FBR has issued a new rule i.e. online integration of businesses through an SRO779(I)2020, here on Thursday, to amend the Income Tax Rules, 2002 for documentation of transactions taking place in these businesses for accurate payment of income tax.

According to the FBR, online integration of businesses would be compulsory for photographers, medical care centres, medical diagnostic laboratories, inter-city travel by road and services provided by beauty parlors, clinics, and slimming centers, guest houses, marriage halls, marquees, retailers including manufacturer-cum-retailer, wholesaler-cum-retailer, importer-cum-retailer or such other person who combines the activity of retail sale with another business activity.

Some categories of integrated businesses are not required to integrate online with the FBR’s computer system as specified in the notification.

The integrated enterprises shall install such fiscal electronic device and software, as approved by the board, available on its website with complete technical instructions for installation, configuration, and integration.

Business cards

our sponsors