ISLAMABAD: The Federal Board of Revenue (FBR) has proposed the installation of electronic fiscal devices for integrated enterprises. The tax department on Thursday issued the draft of online integration of businesses, asking the likely to be affected people to submit their objections and suggestions within seven days. “Registration is compulsory to start above stated business in eight big cities, including Karachi, Lahore, Islamabad, Multan and Peshawar,” the FBR proposed. The EFDs installed at each notified establishment shall be tamper proof and all the data recorded thereon shall be backed up at an offline site. Documents further state that PoS shall communicate all the transactions made from the notified establishments to the FBR through EDF, and SDC shall be capable of generating and sending alert messages resulting from any malpractice or error or any other inconsistent action.

Source: Pakistan Today April 09, 2020 18:45 UTC