FBR officials deputed at retail outlet for monitoring of sales
KARACHI: A tax office of the Federal Board of Revenue (FBR) on Wednesday deputed officials at eight outlets of a retail chain on the suspicions of underreporting of sales.
The Corporate Tax Office (CTO), Karachi deputed its officials at Nimco’s Bakers Private Limited located in Clifton to monitor sales, purchase and production.
The tax office invoked Section 40B of the Sales Tax Act, 1990 to depute the officials.
Officials at the tax office said the action was taken on the directives of Dr Aftab Imam, chief commissioner of the Inland Revenue, CTO Karachi.
The officials said the tax office recently conducted a survey to identify big retailers to integrate them with the tax system through the Point of Sale (POS) machines.
The retailer was falling under the category of Tier-1 retailers, who are required to integrate their sales with the FBR, the official said, adding that the tax office suspected the retailer was allegedly suppressing the sales to evade taxes.
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