Islamabad: The Federal Board of Revenue (FBR) is introducing a new Point of Sale (POS) scheme designed to incentivize consumers to report fraudulent receipts issued by retailers. Starting November 30, this program will target over 600 restaurants and retail outlets in the Islamabad Capital Territory (ICT), marking a significant effort to clamp down on tax evasion.

According to Zameen.Com, the FBR’s revamped initiative will offer cash rewards to consumers who report fake invoices. For purchases under PKR 5,000, the reward is set at PKR 10,000, while reports of invoices exceeding PKR 5,000 could earn a consumer PKR 20,000. Retailers found issuing these fraudulent receipts will face severe penalties, including fines up to PKR 500,000 and potential closure until the fines are paid.

The new POS scheme is a departure from the previous model that relied on invoice submissions and a random balloting system for rewards. Now, consumers can directly submit reports of fake invoices through an online application, making the process more straightforward and potentially more effective.

The initiative comes as part of the FBR’s broader crackdown on non-compliant retailers and restaurants. Already, two prominent restaurants in Islamabad have been sealed for issuing fraudulent invoices, with POS tracking software playing a crucial role in identifying the discrepancies. These actions reflect the FBR’s commitment to ensuring compliance with tax regulations and increasing revenue collection.

This approach not only aims to curb tax evasion but also to foster a culture of accountability and transparency in Pakistan’s retail sector. By empowering consumers to act as watchdogs, the FBR is enhancing its enforcement capabilities and building public trust in its tax collection processes.

The rollout of the POS machines is scheduled to start within the first 10 days of the initiative, with a phased approach to include more brands over the following 20 days. This strategic implementation underscores the FBR’s commitment to broadening the tax net and securing the national exchequer through improved compliance measures.