Pakistan links over 12,800 retailers to digital system to meet IMF condition
Business
Pakistan linked 12,861 retailers to POS systems to meet IMF conditions, aiming to improve tax compliance, expand documentation, and enable real-time monitoring of sales transactions.
ISLAMABAD (Dunya News) – Pakistan has fulfilled another condition set by the International Monetary Fund by connecting 12,861 large retailers to a digital Point of Sale (POS) system aimed at improving tax compliance.
According to the Federal Board of Revenue, major businesses including shopping centres, textile and leather retailers, and restaurants have been integrated into its computerised network as part of ongoing documentation reforms.
Officials said the initiative is aligned with IMF commitments to formalise the economy, with registration of Tier-1 retailers and related sectors being accelerated.
So far, 12,861 major retailers, comprising 35,761 branches, have been linked to the POS system. The government plans to expand this number to 40,000 Tier-1 retailers within the next two years.
Retailers with an annual turnover exceeding Rs500 million will be required to adopt digital invoicing by the end of the current fiscal year.
The FBR stated that the POS system enables real-time sales tax monitoring and electronic invoicing, helping curb tax evasion and boost revenue collection.
Non-compliance may result in fines ranging from Rs500,000 to Rs3 million or business closure.
