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What Are The Benefits Of FBR POS Integration?

Mahum Khalid

  • Jul 15, 2022
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Tax payment is a critical aspect of every business – concerning tax collection, submission, and reporting. FBR POS Integration makes it easy to achieve all these objectives and enables great customer convenience, without any hardware requirement. In fact, to increase the collection of taxes and get sales reports LIVE, the Federal Board of Revenue of Pakistan has made integrating the POS system with FBR mandatory for Tier-1 retailers. With this integration, FBR’s ultimate goal is to receive 100% submission of retail invoices in their Electronic Device System. However, integrating the POS with FBR is a complex and technically challenging process. Our team at Xcentric can integrate your POS system with FBR in a hassle-free way.

Ready to get your POS system integrated with FBR with the help of team Xcentric and need a project quote? Get in touch with us by calling at 0300-800-2094 or drop a query at connect@xcentricservices.com today.

3 Benefits Of Getting Your POS System Integrated With FBR

Before our team gets started on the integration, let us take you through the benefits of it. One of the main benefits that retailers get after integrating the POS solution with FBR is automation. When the integration is complete, retailers in Pakistan can automatically upload their sales invoices on the server of FBR, which ultimately reduces the taxation cost.

According to the updates made in the Sales Tax Rules of 2006 by the tax-collecting agency, every Tier-1 retailer in Pakistan has to integrate their point-of-sale software with FBR. We at Xcentric offer easy and affordable FBR Integration service to all the retailers using a POS system. Our services do not require any hardware and prioritize customer convenience. Here are 3 benefits you can get as a retailer in Pakistan with this integration:

FBR Integration

1.   Real-Time Sales Reporting & Taxation

Tax rates vary from one product to another in Pakistan. For example, the imported goods in the country are subjected to a 17% sales tax. On the other hand, here is the breakdown of the sales tax on some local products, as imposed by the Federal Board of Revenue in Pakistan:

  • Food Supplied By Restaurants – 17%
  • Tobacco – 2.64% per stick
  • Textile & Apparel – 12%

The difference in the sales tax rate on products makes it challenging for the retailers in Pakistan to report their sales in real-time and pay taxes to FBR. In addition, going ahead with FBR POS Integration on their own is also not an option, as the integration requires professional expertise.

Hence, for flexible and hassle-free FBR POS Integration, let Xcentric take up your integration project. No matter which point-of-sale software you use and what product you retail, we will integrate it seamlessly with the FBR server.

Moreover, we will also help you adjust the POS solution according to the latest percentage of sales tax defined by FBR. Post the integration, you can report the sales in real-time to FBR, and in case you retail at multiple locations, creating a branch-wise tax collection report will be easier.

Integrated With FBR

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2.   Verified Tax Submission

Once the integration of your POS system with FBR is complete, the records of all sales transactions will upload directly to the FBR server, and that too in real-time. Afterward, all the sales receipts generated by the POS software are entitled to a QR code and unique FBR invoice number. Customers can verify both easily – the QR code and even the invoice number using the Asaan Tax Application of FBR.

Now, coming to the point of how the integration is beneficial for retailers, it technically ends the periodic inspections of FBR that retail businesses go through. On top of it, the businesses that get their POS system Integrated With FBR are also eligible for a complete tax credit for the fiscal year.

3.   FBR-Approved Retail Business

After the release of the news that integrating the POS system with FBR is mandatory for retailers, FBR also published a list of the authorized FBR POS Integration service providers in the country. Being a full-service digital and tech agency providing end-to-end integration services, Xcentric is also a part of the list.

So, whether you use a traditional POS solution for your retail business or a cloud-based one, we can provide you with dedicated support throughout and post the integration with the FBR server. In addition, if you want our team to facilitate your POS solution too along with the integration, they can also add the sales reporting feature that further helps submit taxes effectively.

POS Integration FBR

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Why Consult Xcentric For FBR POS Integration?

You must have noticed that the sales tax rate varies from one product to another. For example, there is no tax on organic produces like fresh meat and eggs. However, when the same meat is processed, cooked, and supplied by a restaurant, it is subjected to a 17% sales tax. But unfortunately, all the retail business owners in Pakistan are not aware of this, hence the high sales tax.

On the contrary, if you hire Xcentric for the integration, before getting started, our consultants will provide consultancy on how you can save on the sales taxes. So, in simpler words, whether you only want to get your POS system integrated with Pakistan FBR or also need consultancy on reducing the sales tax, we have you sorted.

Ready to take a step ahead in digitalization by getting your POS system integrated with the FBR server? Xcentric is here to help. To get a project quote, call us at 0300-800-2094 or drop a query at connect@xcentricservices.com today.

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    [/vc_column][/vc_row] With the POS solution integration with FBR made mandatory, Pakistan as a country has stepped towards real-time reporting and digitalization. In our opinion, POS Integration FBR is not only a compulsion but a benefit too for the Tier-1 retail businesses. However, the integration is not as easy as installing a plugin on a website. Integrations that do not report sales to the FBR in real-time and bypass the system lead to HUGE penalties.

    Hence, for seamless and fully-operative integration, get on board with Xcentric. The team handling your integration will document everything and handle every tech task related to the POS system’s integration. Additionally, they will also guide you on managing the sales tax returns – so before it is too late, get your system integrated as FBR is penalizing POS Retailers who have not integrated their system with their server.

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