ISLAMABAD – The government is pushing retailers to accept credit card payments to have digital trail, aiding tax collection efforts and reducing tax evasion.

Senate Standing Committee on Finance stressed enforcing regulations related to credit card payments. The chairman of the Federal Board of Revenue (FBR) assured that strict measures would be taken to ensure that retailers accept payments through credit cards, with non-compliant businesses facing closure.

Senator Sherry Rehman expressed concerns over retailers using technical issues as excuses for not accepting credit cards and urged prompt action to address such problems.

The committee stated that only three complaints per day or five per week from consumers would lead to regulatory action against non-compliant businesses.

Under latest directions, businesses failing to issue at least three receipts per day or five receipts per week via Point of Sale (POS) systems will face penalties of up to half million.

FBR chairman also announced implementation of new monitoring dashboard to track the operational status of POS machines in shops, aiming to enhance oversight and accountability.

https://en.dailypakistan.com.pk/16-Dec-2023/sindh-directs-banks-to-deduct-13-percent-additional-tax-on-online-ad-payments