During the meeting of the committee here on Thursday, FBR Member Customs pointed out that the only way to document actual turnover of retailers is to install cash registers at the business outlets across the country. The taxes from the documented retail outlets and international chains are much higher due to installation of the cash electronic registers at their counters. One of the biggest advantages of installing cash registers is that the equipment cannot be tampered and accurate duties and taxes could be collected from the shops having cash registers. Once a cash register is being installed at a shop, each and every transaction has been properly recorded and it cannot be changed, exposing actual sales taking place on daily basis.
Munir Quershi said that the local retail outlets are not maintaining the cash registers because they know that accurate sales would be documented in the presence of these machines. Cash registers are usually not installed in Pakistan to avoid actual payments, sales and declaration of accurate turnover. These retail outlets can easily involved in evasion of taxes by not installing such electronic registers at their outlets.
Fauzia Wahab Chairman Standing Committee highly appreciated this proposal, which was also endorsed by other members of the committee. Chairman FBR agreed to a proposal for provision of free of cost electronic registers to the traders to document their trade transactions for realising due tax. Even if such registers cost few thousand rupees, it would help in determining the actual sales of retailers etc. It was also agreed in the meeting that committee would also recommend the government to offer prize on receipts of any purchase to encourage taking receipt of each purchase from any business outlet.