CNIC made mandatory on Sales of Over Rs. 50,000: FBR

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CNIC made mandatory on Sales of Over Rs. 50,000: FBR

The Federal Board of Revenue has issued a Sales Tax Circular where provisions have been made making it compulsory on the general public to show Computer National Identity Card in case of purchases over Rs50,000 from a registered sales tax seller.

An additional clause has been included to explain that for the female buyer, the CNIC of her father or husband can be considered for the purchase.

The condition of showing CNIC is not mandatory for sales of Rs. 50,000 and below. The condition of showing CNIC is made to document the large business-to-business transactions from Sales Tax registered Entities and Persons.

As per FBR, the condition is expected to result in a decline in fake business buyers which have historically resulted in sales tax losses across the value chains.

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