Islamabad: The Federal Board of Revenue (FBR) has recorded a significant increase in collections from Point-of-Sale (PoS) service fees, totaling PKR 660 million for fiscal year 2023.

According to Zameen.Com, a recent statement from the Finance Ministry to the National Assembly highlighted that the FBR imposes a PKR 1 service fee on every sale invoice issued by tier-1 retailers. This policy led to the collection of PKR 660 million in FY23, marking a substantial rise from the PKR 240 million collected in FY22. The increase underscores a growing efficiency in revenue collection from retail transactions.

The funds collected from these fees are designated for several purposes, including the welfare of Inland Revenue Service (IRS) officials, supporting the PoS prize scheme, and financing media campaigns. However, the FBR noted that the PoS prize scheme has been temporarily suspended for several months, pending review.