ISLAMABAD: Marriage halls and hotels would be required to instal electronic fiscal devices to share their business transactions with the Federal Board of Revenue (FBR).
According to sources, the installation of fiscal devices has been made mandatory in order to bring certain service providers into the tax net.
Sources said that hotels, motels, guest houses, marriage halls, marquees, and clubs are required to install electronic fiscal devices, however, exemption from the installation of devices is available where the restaurant is operating other than as part of a food court; and where the facility of air-conditioning is not installed or available in the premises.
The FBR issued SRO 779(I)/2020 dated August 26, 2020, to unveil draft rules to implement the law related to the installation of electronic fiscal devices under Income Tax Ordinance, 2001.
According to the rules, such taxpayers operating in Karachi, Lahore, Islamabad, Rawalpindi, Faisalabad, Multan, Peshawar and Gujranwala will be required to install the fiscal devices.
The sources said that the installation of fiscal devices to help the FBR in preventing revenue leakages in the hospitality sector. They said that the taxpayers shall provide all sales data through an online system which will be connected to the FBR portal for online monitoring and examination.
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