FBR to install Invoice Monitoring system in Restaurants and Beauty Salons to curb theft of tax sales
According to the source, the system has already been installed into 3000 restaurants
- Installation of electronic Invoice Monitoring System to have full information about the actual sales of bakeries, salons, and retail outlets.
- Computer systems and invoices of the outlets will directly be connected to the FBR’s concerned department.
Federal Board of Revenue had determined to monitor the scope of the Invoice Monitoring System many businesses to restrain embezzlement of sales tax. These businesses are beauty salons, grocery stores, retail outlets, and bakeries.
For information about the actual sales of these businesses electronic Invoice Monitoring System would be installed at all these places.
After the successful implementation of this system in the federal capital, the system would be applied all across the country.
According to the report available to the source, this decision is taken during the high-level meeting at the FBR office. The invoice Monitoring System installed in restaurants also discussed in detail during the meeting.
Moreover, the system will be updated and converted to a real-time system and will be extended for more improvements.
How the system will work
A copy of the bill issued to the customer after the installation will electronically reach to the FBR’s concerned department. Through which not only the actual sale of the outlet will be determined but also the sales tax charge on every customer can be monitored.
According to the source, the system has already been installed into 3000 restaurants and would be installed to many more.
It is further told by FBR that after the system gets operational computer systems of restaurants will directly be connected with the headquarters of FBR and the data will be transferred to FBR on a real basis.
Officers of FBR have expressed satisfaction on the working of the system and they are sure that it would increase tax collection from the restaurants.