Tax credit for point-of-sale machine Section 64D
Tax credit for point-of-sale machine Section 64D: Where a person, who is required to integrate their point of sales system with the FBR’s computerized system for real time reporting of sale or receipt, integrates his system with FBR during a tax year, he shall be allowed tax credit in respect of amount invested in point-of-sale machine. Such tax credit shall be lesser of:
- Amount invested in purchase of machines or
- Rs.150,000 per machine
Further bill proposes a definition of Point of sale machine as a machine meant for processing and recording the sale transactions for goods or services, either in cash or through credit and debit cards or online payments in an internet enabled environment.
For more information on FBR’s new regulations / circulars/ SROs/ amendments in taxation laws in Pakistan please visit https://www.fbr.gov.pk/