BY COMMERCE REPORTER
LAHORE: The Punjab Revenue Authority (PRA) is on its way to integrate its e-IMS system with the Federal Board of Revenue’s (FBR) Point of Sales (POS) system.
The integration of PRA’s Electronic Invoice Monitoring System (e-IMS) with POS system will simplify tax processes for taxpayers as they will not require integration with two separate system of two revenue organisations. This will also reduce procedural redundancies. The integration is also expected to curb tax evasion by minimizing reliance on manual receipts as well as it will be pivotal in documentation of transactions thus helping in documentation of economy.
The rollout of integration plan will be completed in phases: in first phase eIMS-POS integration for restaurants will be made till the end of December this year whereas this will be extended to other sectors before the end of February next year. It is also pertinent to mention that PRA is already on its way to integrate the data of eIMS with its return which is also a step towards simplication of the tax process for the taxpayers and elimination of duplication of efforts. For restaurant owners, the system will streamline invoice generation, further enhancing efficiency and compliance.
