ISLAMABAD – The Federal Board of Revenue (FBR) decided to document the sales of various business sectors in order to meet the conditions set by the International Monetary Fund (IMF), the sources familiar with the development said on Wednesday.
The Federal Board of Revenue (FBR) set a deadline of December 31 for 107 companies to connect with the FBR system.
The FBR officials stated that 107 FMCG (Fast-Moving Consumer Goods) companies, which deal in high-demand, low-priced and quickly sold items, would be linked to the real-time digital invoicing system.
A list of manufacturers was also prepared along with the Sales Tax General Order while the entire supply chain—from manufacturing to supply and end consumers—would be monitored.
A private company was also issued a license to ensure registration while fast-moving consumer goods included food, beverages, medicines, household items and disposable products.
The sources said that the data of these companies was also shared with the large taxpayer units across the country.
