FBR Releases Guidelines For Online Integration Of Businesses
The Federal Board of Revenue (FBR) has introduced a procedure for vendors seeking licenses to operate online business integration. On Friday, FBR issued S.R.O. 1845(l)12023, amending the Income Tax Rules 2002. The board will assess brand, model, and specification accreditation through its nominated committee during the application process. This accreditation pertains to an Electronic Fiscal Device (EFD), comprising one Sale Data Controller (SDC) and at least one Point of Sale (POS) connected.
During accreditation, suppliers must provide necessary information, equipment, and assistance to the licensing committee, as required by the FBR. If an EFD’s brand, model, and specification cease to comply with determined parameters, the licensing committee may revoke the vendor’s accreditation. The committee will promptly notify the vendor and the integrated supplier, removing EFD particulars from its website.
Within fifteen days of application submission, the licensing committee, led by an officer appointed by Member Digital Initiatives, will recommend or reject applications for license renewal. The convener of the licensing committee will oversee the system, addressing operational issues. FBR emphasized that vendors must adhere to specified parameters to maintain accreditation for online business integration.