The Senate Standing Committee on Finance and Revenue reviewed the Finance Bill 2024 under the chairmanship of Senator Saleem Mandviwala today.
Chairman Federal Board of Revenue (FBR) Malik Amjed Zubair Tiwana informed the committee that businesses refusing to accept credit or debit card payments will face strict actions, including sealing the premises based on three daily complaints or five weekly complaints from customers.
Senator Sherry Rehman raised concerns about the difficulties faced by consumers due to POS system failures, recounting instances where credit card payments were not accepted. She emphasized that in other countries, such as the UK, even small purchases can be made with credit cards. She reported that in Pakistan, retailers often claim their machines are down, particularly for high-value transactions.
Chairman FBR said the introduction of measures to bring transparency to the POS system in the new budget. This includes licensing POS software companies and integrating a third-party license system. The Chairman admitted that previous POS software was vulnerable to fraud, and reassured that the new system would prevent such issues.
He added that shops not providing receipts for five Point of Sale (POS) transactions in a week would face a fine of Rs. 500,000.
Tiwana added that retailers involved in tax fraud will be blacklisted, but they will have the right to appeal to the Chief Commissioner. He assured the committee that steps are being taken to ensure retailers comply with the POS system and accept credit card payments.
Either they refuse or charge 15% extra
Good step honestly
Government should provide a toll free number to file a complaint in real time. Complaint process should be easy and efficient
Easy and efficient are not words associated with the government.
I’ve a complain against Nando’s. Every restuarant/cafe charge 5% tax through card payment, but NANDO’S charge 16% tax on card payment.They should be punished.
Yes good step
In johar town hen and bun wants only cash which I unable to understand
Mandi house never accepts card payment
Karachi’s elitist KOLACHI dosent accept credit card. Most of the restaurants give order slips as reciept, implying the reciepts are not shown in books.
Yeah seal business of Chezious first of all, as they have been denying using cards since the start
If the government takes steps to stop cash transactions as much as possible and business is done only through banking channels, our country can generate around 1000 billion in taxes without levying any new taxes, simply make the black economy of our country documented and save Pakistan