#fbr pos invoicing system

[merchantservices444]

Automotive POS System

[amazingsweets]

Foodnerd, FBR Integrated Restaurant POS Software

The restaurant point of sale solution has emerged due to technological advancement. However, it had recently gained popularity during COVID-19 when the strict government regulations forced the restaurant owners to close their business and follow SOP. During the COVID-19, the restaurant business faced severe challenges, and thus, it provoked the managers to adapt to technology to continue their business operations. With

POS software

, the restaurant manager integrates their business operations to the internet and can efficiently operate it anywhere, anytime. Similarly, the POS software also benefited the customers in many ways. It provides customers with contactless ordering and payment solutions to avoid unnecessary interaction with the staff. Hence, the POS solution is gaining much recognition day by day. At the same time, the regulatory authorities have also implemented different rules and regulations regarding the use of POS software. Such as point of sale integration with FBR. 

POS Integration With FBR

FBR is an abbreviation of the Federal Board of Revenue. It is the official institution of the Government of Pakistan that plays a role in taxation collection from every single citizen of Pakistan. The government of Pakistan has made a point of sale integration mandatory with FBR. According to the Law, all tier-1 retailers, including national or international restaurants operators, manufacturers, bakeries, sweet shops retailers, are required to integrate their POS operations with FBR and generate sale invoices in real-time printed with FBR fiscal number, QR codes, and FBR registered logo”. 

Why Do Restaurants Integrate Their Point Of Sale With FBR?

According to chapter XIV-A of the sales Tax rule, 2006, It is mandatory for the restaurant operators, snacks bars, cafes, etc., who fall under the category of tier-1 retailers to integrate their restaurant point of sale software with FBR. Any operator who does not abide by this law will be sentenced to imprisonment for one or more years, and they will also be fined up to two hundred thousand rupees. Similarly, according to the legal regulations, these codes of conduct for POS integration with FBR are also applicable to the online sales, i.e., the tier-1 retailers must integrate their websites with FBR; thus, they will make sure that their in-store, as well as online sales, are also integrated with FBR, and they are directly reported to FBR along with FBR invoice number, QR codes and generated invoice.Many outdated points of sale solutions are there that are not integrated with FBR. Thus it becomes challenging for them to share their sales invoices with FBR. as the government makes it mandatory to have

POS softwares

integrated with FBR; therefore, as an alternate option, many operators have to separately install a fiscal software component on their same computer where they already have installed POS software. Then the fiscal component will be integrated with the POS system and generate reports to FBR. However, today, there are many advanced cloud-based software technologies in the market, such as

foodnerd POS

, which is automatically integrated with FBR, so the restaurant owners are not required to install a separate software component. The foodnerd POS will periodically move the recorded invoice system of restaurants to the FBR online system via an independent process.  

Benefits Of Having FBR Integrated Restaurant POS

The point of sale system, which is already integrated with the FBR, provides many significant benefits such as:

FBR integrated POS system offers real-time integration with FBR system.

It automatically uploaded the invoicing data into the FBR system, so users cannot provide their invoice data reports separately.

FBR officially publishes the list of certified POS on its website. Thus it will enhance brand reputation. 

The customers can quickly get discounts while ordering or shopping from the FBR integrated POS.

Read

How To Drive Consumer Engagement In Your Restaurant?

How Software Technologies Are Evolving The Business

Best FBR Integrated Restaurant POS Solution 

Many latest point-of-sale software are automatically integrated with the FBR, so retailers are not required to buy any separate component and then combine it with their POS and FBR. One of the best

FBR integrated points of sale software

is Foodnerd. It is a light-speed Restaurant Point Of Sale software that allows managers to efficiently manage billing, inventory, table, history, kitchen, QR, and many more. The foodnerd POS syncs the sales and tax data in real-time and connects the real-time reports with the FBR server. Similarly, foodnerd POS saves the data In case FBR APIs/system is down. Hence, it doesn’t stop the operation.  With Foodnerd, the managers are not required to have prior technical knowledge because they can easily manage their business operations using mobile, laptops, or tablets. The

POS software solutions

provide ease in operational efficiency by automating business operations and reducing operating costs. Lastly, to verify the customers about their invoice, they can download the Asan App by FBR on their smartphone and open the online verification system to go to the POS Invoice and download the QR code.

FBR POS Integration FAQs 

Which retailers come under the category of Tier-1 retailers?All those retailers operated in the air conditioning shopping mall, national or international chain stores, wholesale retailers, restaurants, cafe snack bars, and sweets shop operators. All these retailers come under the category of tier-1 retailers.Who will benefit from the FBR integrated POS?The tier-1 retailers will benefit from the installation of FBR integrated POS  because the tax rates are low and the compliance will be hassle-free, and their business reputation will be elevated. Should all the restaurants integrate their restaurant POS with FBR?Under chapter XIV-A of the sales tax rule 2006, it is mandatory for the food industry business operators, including restaurants, cafes, snack bars, sweet shops operators, to integrate their POS with FBR. Read

Howmuch, FBR Integrated Retail POS Software

[lahoreherald]

Banks are necessary to provide digital payment to corporate customers

It was announced on Friday that the State Bank of Pakistan (SBP) had made it essential for banks and financial institutions to provide digital payment facilities to its business clients, according to a statement.

According to the central bank, in order to accelerate the digitalization of payments and receipts in the corporate sector, the State Bank has now made it mandatory for its regulated entities, which include banks, microfinance institutions, payment system operators, and payment system providers, to provide digital means of payments to their corporate clients as well as to enable businesses to send and receive payments electronically.

In a recent circular, the central bank requested that its regulated organizations make it easier for its institutional clients, which include corporations, companies, and partnerships, to make large-value payments using digital channels.

Read Also: Fans only approved by the Ministry of Science will be able to be sold in Pakistan

Online portals/platforms for corporate digital payments and receipts are now required to be expanded, including online interbank fund transfer services, online bill/invoice sharing, and payment services such as over-the-counter digital payments services/facilities, card payments made through the point of sale (POS) terminals, QR codes, mobile devices, ATMs, kiosks and any other digital payments enabled device. The State Bank of Pakistan has instructed the banks to produce a roadmap for adopting these measures within 30 days in order to track the progress of execution of these guidelines.

Businesses that have been aided in the digitization of their payments and receipts must also submit quarterly progress reports to the SBP, which will be used to assess the success of the banks.

In addition, the SBP anticipates that these measures would improve the documentation of value chains and assist enterprises in managing their high-value transactions more effectively.

It will also make it easier to put into effect the Federal Board of Revenue’s recently announced measures on the integration of businesses with the FBR system as well as the conduct of corporate payments through digital methods.

In addition, regulated companies are required to undertake steps to onboard non-corporate actors, such as sole proprietors, Small and Medium-Sized Enterprises (SMEs), and Micro, Small, and Medium-Sized Enterprises (MSMEs), in order to facilitate the supply of digital payments services.

Published in Lahore Herald #lahoreherald #breakingnews #breaking

[fastworldnews1]

FBR has exceeded its target for the first eight months of the current fiscal year

The Federal Board of Revenue has exceeded its target for the first eight months of the current fiscal year (July-February) by fetching Rs2,916 billion against its desired target of Rs2,898 billion, seeing an increase of Rs18 billion

As per the provisional collection figures, the FBR collected net revenue of Rs2,916 billion during the Jul-Feb period, which has exceeded the target of Rs2,898 billion. This represents a growth of close 6% compared to the Rs2,750 billion collected during the same period last year.

The monthly net collection for February was Rs343 billion against the required target of Rs325 billion, representing an increase of 8% over February 2019 and 106% of the target. The collection figures are likely to improve further when book adjustments are finalised.

On the other hand, the gross collections increased from Rs2,823 billion during this period last year to Rs3,068 billion, showing an increase of nearly 9%. The number of refunds disbursed was Rs152 billion compared to Rs79 billion paid last year, showing an increase of 97%. This reflects FBR’s resolve to fast-track refunds to prevent liquidity shortages in the industry.

The increase in revenue is a reflection of growing economic activities in the country despite the second wave of coronavirus. During March-June 2021, it is expected that this revenue performance will improve substantially compared to 2020 when economic activities were disrupted.

Meanwhile, the FBR’s efforts to broaden the tax base are also paying dividends as early signs suggest such efforts are bearing fruit.

As of February 28, 2021, income tax returns for the tax year 2020 reached 2.62 million compared to 2.43 million last year, showing an increase of 8%.

The tax deposited with returns was Rs49.6 billion compared to only Rs31 billion, showing an increase of 60%.

Last year, the country’s tax authority had set the final date for submission of returns as of February 28. However, FBR’s decision to adhere to December 8 as the last date has been vindicated as more returns and higher tax payments were recorded during tax year 2020 as compared to 2019.

Besides this, the FBR has issued notices to nearly 2.1 million taxpayers who were supposed to file returns or have filed a nil return or misdeclared their assets or have not been filing a return for sales tax to comply with their legal obligations. The exercise is eliciting an encouraging response. However, those who are not complying will be pursued diligently.

The FBR has also released information about tier-I retailers who have been integrated with the POS system. According to the information, 9,952 sales points have been integrated with the Point of Sales Linked Invoicing System.

The Pakistan Customs has initiated a focused counter-smuggling drive. During February 2021, smuggled goods worth Rs4.08 billion have been seized, while in February 2020 smuggled goods worth Rs3.02 billion were seized, thus showing a monthly increase of 35.18%.

Similarly, during the last eight months (July 2020-Feb 2021) of the current financial year, smuggled goods worth Rs39.52 billion have been seized as compared to Rs25.10 billion from July 2019 to February 2020 of the last financial year, thus showing an increase of 57.45%.

Moreover, the value of seized goods of Rs39.52 billion in the eight months of the current FY has crossed the total value of seized goods of last year. In FY 2019-20, smuggled goods worth Rs36 billion were seized.

https://ift.tt/3006N2a

[getfastestnews]

FBR has exceeded its target for the first eight months of the current fiscal year

The Federal Board of Revenue has exceeded its target for the first eight months of the current fiscal year (July-February) by fetching Rs2,916 billion against its desired target of Rs2,898 billion, seeing an increase of Rs18 billion

As per the provisional collection figures, the FBR collected net revenue of Rs2,916 billion during the Jul-Feb period, which has exceeded the target of Rs2,898 billion. This represents a growth of close 6% compared to the Rs2,750 billion collected during the same period last year.

The monthly net collection for February was Rs343 billion against the required target of Rs325 billion, representing an increase of 8% over February 2019 and 106% of the target. The collection figures are likely to improve further when book adjustments are finalised.

On the other hand, the gross collections increased from Rs2,823 billion during this period last year to Rs3,068 billion, showing an increase of nearly 9%. The number of refunds disbursed was Rs152 billion compared to Rs79 billion paid last year, showing an increase of 97%. This reflects FBR’s resolve to fast-track refunds to prevent liquidity shortages in the industry.

The increase in revenue is a reflection of growing economic activities in the country despite the second wave of coronavirus. During March-June 2021, it is expected that this revenue performance will improve substantially compared to 2020 when economic activities were disrupted.

Meanwhile, the FBR’s efforts to broaden the tax base are also paying dividends as early signs suggest such efforts are bearing fruit.

As of February 28, 2021, income tax returns for the tax year 2020 reached 2.62 million compared to 2.43 million last year, showing an increase of 8%.

The tax deposited with returns was Rs49.6 billion compared to only Rs31 billion, showing an increase of 60%.

Last year, the country’s tax authority had set the final date for submission of returns as of February 28. However, FBR’s decision to adhere to December 8 as the last date has been vindicated as more returns and higher tax payments were recorded during tax year 2020 as compared to 2019.

Besides this, the FBR has issued notices to nearly 2.1 million taxpayers who were supposed to file returns or have filed a nil return or misdeclared their assets or have not been filing a return for sales tax to comply with their legal obligations. The exercise is eliciting an encouraging response. However, those who are not complying will be pursued diligently.

The FBR has also released information about tier-I retailers who have been integrated with the POS system. According to the information, 9,952 sales points have been integrated with the Point of Sales Linked Invoicing System.

The Pakistan Customs has initiated a focused counter-smuggling drive. During February 2021, smuggled goods worth Rs4.08 billion have been seized, while in February 2020 smuggled goods worth Rs3.02 billion were seized, thus showing a monthly increase of 35.18%.

Similarly, during the last eight months (July 2020-Feb 2021) of the current financial year, smuggled goods worth Rs39.52 billion have been seized as compared to Rs25.10 billion from July 2019 to February 2020 of the last financial year, thus showing an increase of 57.45%.

Moreover, the value of seized goods of Rs39.52 billion in the eight months of the current FY has crossed the total value of seized goods of last year. In FY 2019-20, smuggled goods worth Rs36 billion were seized.

Read More

[rickeydoering]

FBR has Launched Application for Asaan tax returns

Federal Board of Revenue has launched a mobile application for Android and Apple users to file tax returns from their phones. The application is named as “Tax Asaan”.

Earlier on Thursday, the Chairman FBR Shabbar Zaidi announced that the application is supposed to provide a facility to salaried people to file income tax returns from the comfort of their homes. The application is another step closer to completely digitize the tax system of the country. It requires the simplest steps to become a filer.

The application gives the option to pay tax through mobile banking, which makes it easy for people who like to avoid long and hassle-prone procedures. The app also allows sales tax registration and online verification of active taxpayers list, Point of Sale (POS) invoices, Whatnot taxes, and exemptions.

People can do anything from tax filing to sales tax registration with just using their NTN, SRTN, CNIC, Passport and Reg/Inc number. It would help reduce corruption and ensure tax evasion is no longer an issue.

Here is how to use the Application:

First, download the application from the Apple store or Play store

* Open the application and log in from your IRIS account,

* On the homepage, click on the “Income Tax”,

* There will two options for taxpayers; choose E-enrollment, and if you��re not registered choose the other one that would take you to the registration, and assets inquiry section

* To complete the registration process, you will receive an email with your password, PIN and registration number. * You can use this registration number and password to sign in to the Tax Asaan app. * After that it would take you to the form, which is easy to fill.

 ×TechJuice for Browser: Get breaking news notifications on your browser. Subscribe

Like our stories? Follow our Instagram for pictorial updates.Follow @techjuicepk

googletag.cmd.push(function() { googletag.display('div-gpt-ad-1501305954096-0'); });

The post FBR has Launched Application for Asaan tax returns appeared first on TechJuice.

FBR has Launched Application for Asaan tax returns published first on https://apptrackerltd.tumblr.com/

[lahoreherald]

FBR imposes Re1 service tax on the POS invoice

The Federal Board of Revenue (FBR) imposed a service tax of Re1 every invoice issued through all points of sale on Friday, effective immediately.

According to the Revenue Board’s SRO 1279 (I)/2021, it has been determined to impose service charges at the rate of Re1/invoice issued through all POS systems that are linked with the Federal Bureau of Revenue’s computerized system for real-time reporting of sales.

In addition to the monthly payment of sales tax and the submission of the sales tax return, the service charges would be collected by Tier-1 merchants that have linked their systems with the FBR’s system and put into a designated account.

Previously, the Federal Bureau of Revenue (FBR) published SRO 1006 (I)/2021 on August 9, 2021, notifying the public that a modification to the Sales Tax Rules, 2006 will be made to impose service charges in part on invoices generated through POS.

Read Also: Pakistan bans food exports: Tarin

Specifically, the rules provide that “the POS service charge of Re1/invoice should be collected by the Tier-1 merchants from the consumer and shall be deposited with the monthly sales tax return.”

Moreover, the Tier-1 store would deposit the POS service charge earned each month into a separate head of account, according to the agreement.

A further SRO 1005(I)/2021 was issued by the FBR outlining the procedure for the reward program. According to this scheme, customers of integrated Tier-1 retailers whose names and computerized national identity cards (CNICs) are notified through a random computerized draw would be eligible to receive a prize in respect of their purchases from the Tier-1 retailers would be eligible to receive a prize in respect of their purchases from the Tier-1 retailers.

A retailer who operates as a unit of a national or international chain of stores, or who operates in an air-conditioned shopping mall, plaza, or center, excluding kiosks, is classified as a Tier-1 retailer under the Sales Tax Act, 1990. A retailer who operates as a wholesaler-cum-retailer, engaged in bulk import and supply of consumer goods on a wholesale basis to the retailers, is classified as a Tier-2 retailer under the Sales Tax Act, 1990.

Published in Lahore Herald #lahoreherald #breakingnews #breaking

[amazingsweets]

FBR POS Integration –  Steps on How to do it

The Federal Board of Revenue is one of the most crucial and sensitive organizations of Pakistan. It is a federal regulatory body responsible for the collection of taxes, evaluation of tax anomalies, investigation of financial crimes, and money laundering.The importance of digital integration for the regulatory organizations was seen by FBR and they signed an MOU last year for an FBR point of sale platform.This initiative by FBR directly translates into ease of recording sales in real-time for mass-market retailers. The primary benefit of this Electronic Device System is that taxation can be managed in a smoother and more accurate manner.The notice by FBR necessitates all mall shops, brand stores, hypermarkets, chain stores, hotels, cafes, restaurants, and snack outlets to have a POS installed from 1st December 2020.Whether a particular retailer falls under the tier 1 category defined by FBR or not, they have to ensure there is a point of sale integration for their outlet with FBR’s electronic device system.

The Benefits of FBR POS integration

An integrated POS system will eliminate the need for FBR to conduct periodic tax evaluations and make filing sales tax returns easier for retailers. All that needs to be done is to download the invoicing system, which prints a barcode or QR code on every invoice generated from the POS for each sale. The same information is simultaneously transferred to the FBR’s servers due to the integrated FBR point of sale system.The POS systems available for retailers have the ability to account for any returns or exchanges and incorporate them in the sales data that is shared with FBR. In order to know if you lie in the tier 1 category referred to by FBR it would be helpful to match your business against the following list:

A retail outlet that is either a branch or franchise of a domestic or international brand falls in this category.

Any retail outlets that are located in air-conditioned spaces like malls belong to this category.

A retail outlet whose annual electricity bill exceeds Rs. 6 lacs is part of the tier 1 category of FBR.

Any retail outlet that has a total covered area equal to or greater than 1000 square feet is in this category.

Any wholesalers who import products in bulk and sell locally to other retailers or wholesalers are part of the tier 1 category.

The FBR point of sale integration offers a lot of convenience to consumers as well. Individuals making purchases no longer have to worry about their sales tax being deposited in the FBR or not. They can easily check this by downloading the Tax Asaan application by FBR and scan the barcode or QR code on their receipts to check the status of their sales tax.Customers shopping for leather products or textile products from retailers integrated with the FBR POS system get to enjoy additional discounts as well.

Choosing the right POS system provider

FBR has definitely taken a step in the right direction by setting up the

FBR POS integration for retailers

. However, there are multiple options available when it comes to choosing a POS system provider.As a retailer, you should choose a service provider that is affordable and caters to all your POS needs.

Howmuch

offers an all-in-one consolidated solution to retailers. This is a cloud-based POS service that helps improve the intricate and complicated processes of your retail business.The Howmuch tracks and evaluates the performance of your retail outlet to help you make informed strategy-related decisions for the future. Some of the top features of this POS system that would cater to seamless integration with the FBR’s system includes:1. In-depth reporting and AnalyticsYou will be able to extract periodic reports from this POS system in order to evaluate your current performance and be able to make better decisions pertaining to your future strategy. The frequency of these reports can be daily, weekly or monthly.2. Highly functional DashboardThis Feature of Howmuch POS makes it hassle-free to look for important information. This single-screen provides a comprehensive summary of all important numbers. You do not need to go to different tabs to be able to get a quick summary of your business’s performance.3. Multi-channel

inventory management

Retailers today sell their merchandise across multiple channels. At times it can be tough to manage the inventory across different sales channels. If not managed properly, this can lead to stockouts and dissatisfied customers.The Howmuch platform offers retailers the features of tracking and managing inventory across multiple platforms. This is an easy-to-use feature that can really help retailers.4. Discount and offers for customersCustomers that are rewarded for their loyalty are happier customers and have a greater customer lifetime value. This required retailers to offer different types of discounts or offers to their customer base.If a retailer does not have a proper POS system it can be a tedious task to set up discounts and offers for the customers. Howmuch is a simple and easy-to-use system that allows for smooth implementation and editing of any discounts or offers.5. Flexible Payment SystemCustomers who visit a specific retail outlet prefer having multiple payment options when it comes to paying for their purchases. If you do not offer them these options they might just choose another outlet that offers this facility.The Howmuch platform comes with a built-in system that incorporates multiple payment mediums for your customers. Given the rise in payment mediums other than cash, this will be a good asset for your retail outlet.

Conclusion

The FBR POS integration is a great step towards the digitization of the retail industry and tax collection in the country. Since this is a regulatory requirement for all tier 1 outlets the only decision that you should focus on is choosing the right POS system provider. Your criteria would consist of suitability, customization, usage utility, and affordability of the POS system for your business.

[getfastestnews]

FBR pursuing 17,000 retailers in its next phase

Federal Board of Revenue (FBR) decided to pursue 17,000 retailers present in luxurious shopping malls with the size of approximately 1000 square feet stores.

In a major tax documentation drive, the Federal Board of Revenue (FBR) has decided to go after approximately 17,000 big retailers located in luxurious shopping malls, retail chains and stores having 1,000 square feet size across the country to raise due taxes.

The drive for installation of automated ‘Point of Sale’ (POS) system at these outlets will be initiated after Dec 1 as part of government’s commitment to document sales of big retailers who are currently evading payment of taxes, which runs into billions.

FBR Chairman Shabbar Zaidi took to twitter and announced that the tax body will launch automated POS for all large retailers from next month. “All large scale retailers are suggested to integrate with the system,” he said.

FBR will launch automated ‘Point of Sale’ (POS) for all large retailers from next month. All large scale retailers are suggested to integrate with the system. This will greatly assist such retailers as in such cases personal interaction with FBR will be minimised. A way forward.

— Syed Shabbar Zaidi (@ShabarZaidi) November 23, 2019

The adoption of the system, according to the chairman, will greatly assist retailers as in such cases personal interaction with FBR will be minimised.

Currently, there are only 3,500 big retailers registered through POS. At these stores, computerised machines are installed linking the sales proceeds with FBR system to check on tax evasion.

Under POS, big retailers will report their sales in real-time with FBR to make it sure that tax collected from consumers at the cash counter is actually deposited with the government.

“We have identified around 17,000 big retailers which will be brought under the POS,” Member Policy Hamid Ateeq Sarwar told Dawn, adding that FBR is waiting for voluntarily responses from these stores.

He said in case they did not come under the system, FBR will be left with no choice but to register them forcefully. He also hinted at the introduction of stringent penalties for those who did avoid POS, with the possibility closing of shops.

But Sarwar clarified that major penalties will be introduced in the next six months, possibly with the new budget for 2020-21.

It is estimated that FBR will raise around Rs20 billion in taxes from brining all these retailers into the net. These shops collect taxes from consumers, but the same is not always deposited with FBR.

The tax body has projected to make the installation of POS invoicing at almost 20,000 businesses and outlets by June 2020. FBR has already amended the sales tax rules by making registration with the new system for all tier-1 retailers mandatory.

Sarwar said that it is mandatory for all big shopping malls, brand outlets, chain stores etc to register their sales with the new system effective from December 1, 2019. “We will take action against those who do not come under the system,” he remarked.

On the issue of small retailers, the member said that FBR has already signed a memorandum of understanding with them by accepting their demands. “We have almost finalised the rules and other necessary changes in taxes laws,” he continued.

According to Sarwar, these changes will either be introduced through a money bill in parliament or some other means. However, he clarified that no change will be made on the issue of CNIC requirement.

The member said that FBR has already decided to spend almost $80 million on the automation of all processes in the tax system. “We want to carry out digital surveillance to identify evaders instead of raiding their businesses,” he said.

Sarwar said that to encourage customers to seek electronic receipts of their purchases at these outlets, FBR will come up with gift schemes to be offered through balloting. These will include compensation in sales tax payment by refunding a certain amount.

Read More

[rickeydoering]

FBR has Launched Application for Asaan tax returns

Federal Board of Revenue has launched a mobile application for Android and Apple users to file tax returns from their phones. The application is named as “Tax Asaan”.

Earlier on Thursday, the Chairman FBR Shabbar Zaidi announced that the application is supposed to provide a facility to salaried people to file income tax returns from the comfort of their homes. The application is another step closer to completely digitize the tax system of the country. It requires the simplest steps to become a filer.

The application gives the option to pay tax through mobile banking, which makes it easy for people who like to avoid long and hassle-prone procedures. The app also allows sales tax registration and online verification of active taxpayers list, Point of Sale (POS) invoices, Whatnot taxes, and exemptions.

People can do anything from tax filing to sales tax registration with just using their NTN, SRTN, CNIC, Passport and Reg/Inc number. It would help reduce corruption and ensure tax evasion is no longer an issue.

Here is how to use the Application:

First, download the application from the Apple store or Play store

* Open the application and log in from your IRIS account,

* On the homepage, click on the “Income Tax”,

* There will two options for taxpayers; choose E-enrollment, and if you’re not registered choose the other one that would take you to the registration, and assets inquiry section

* To complete the registration process, you will receive an email with your password, PIN and registration number. * You can use this registration number and password to sign in to the Tax Asaan app. * After that it would take you to the form, which is easy to fill.

 ×TechJuice for Browser: Get breaking news notifications on your browser. Subscribe

Like our stories? Follow our Instagram for pictorial updates.Follow @techjuicepk

googletag.cmd.push(function() { googletag.display('div-gpt-ad-1501305954096-0'); });

The post FBR has Launched Application for Asaan tax returns appeared first on TechJuice.

FBR has Launched Application for Asaan tax returns published first on https://apptrackerltd.tumblr.com/

[rickeydoering]

FBR has Launched Application for Asaan tax returns

Federal Board of Revenue has launched a mobile application for Android and Apple users to file tax returns from their phones. The application is named as “Tax Asaan”.

Earlier on Thursday, the Chairman FBR Shabbar Zaidi announced that the application is supposed to provide a facility to salaried people to file income tax returns from the comfort of their homes. The application is another step closer to completely digitize the tax system of the country. It requires the simplest steps to become a filer.

The application gives the option to pay tax through mobile banking, which makes it easy for people who like to avoid long and hassle-prone procedures. The app also allows sales tax registration and online verification of active taxpayers list, Point of Sale (POS) invoices, Whatnot taxes, and exemptions.

People can do anything from tax filing to sales tax registration with just using their NTN, SRTN, CNIC, Passport and Reg/Inc number. It would help reduce corruption and ensure tax evasion is no longer an issue.

Here is how to use the Application:

First, download the application from the Apple store or Play store

* Open the application and log in from your IRIS account,

* On the homepage, click on the “Income Tax”,

* There will two options for taxpayers; choose E-enrollment, and if you’re not registered choose the other one that would take you to the registration, and assets inquiry section

* To complete the registration process, you will receive an email with your password, PIN and registration number. * You can use this registration number and password to sign in to the Tax Asaan app. * After that it would take you to the form, which is easy to fill.

 ×TechJuice for Browser: Get breaking news notifications on your browser. Subscribe

Like our stories? Follow our Instagram for pictorial updates.Follow @techjuicepk

googletag.cmd.push(function() { googletag.display('div-gpt-ad-1501305954096-0'); });

The post FBR has Launched Application for Asaan tax returns appeared first on TechJuice.

FBR has Launched Application for Asaan tax returns published first on https://apptrackerltd.tumblr.com/