FBR Issues Rules for Online Integrations of Businesses

The Federal Board of Revenue (FBR) has issued a procedure for the vendors intended to obtain licenses for operating online integration of businesses. FBR has issued S.R.O. 1845(l)12023 to amend lncome Tax Rules 2002 on Friday. On receiving the application the board shall, through its nominated committee, determine accreditation of the brand, model, and specification of the EFD, which means a system composed of one Sale Data Controller (SDC) and at least one Point of Sale (POS) connected. During the accreditation process, the supplier must provide the licensing committee with access to information and equipment and any other assistance reasonably required for carrying out the process, the FBR said. The licensing committee may revoke the accreditation of the vendor if the brand, model, and specification of the EFD ceases to comply with the determined parameters. The notice of revocation shall be sent to the vendor specifying the reasons for revocation and also to the integrated supplier operating such EFD. The licensing committee shall also immediately remove the particulars of the EFD from its website. The licensing committee shall recommend or reject an application within fifteen days of the date of submission of the application, specifying reasons for recommending or rejecting any application under these rules. Member Digital lnitiatives will appoint an officer not below the rank of an Additional Commissioner (BPS-19) to be the convener of the licensing committee. The licensing committee shall evaluate the applications and make recommendations to Member Digital lnitiatives for the renewal of the license. The convener of the licensing committee as appointed by the Member Digital lnitiatives shall be responsible for overall supervision of the system and the steps taken to address problems encountered during the operation of the systems, FBR added.