What are the requirements for obtaining an online business license?
The Federal Board of Revenue (FBR) has issued the procedure for obtaining a license for online business operators (vendors / integrated enterprises)
An SRO (Statutory Regulatory Order) 1845 (1) 2023 has been issued by the FBR to amend the Income Tax Rules 2002.
Under this order, the members of the Digital Initiative shall appoint an officer not below the rank of Additional Commissioner (BPS-19) as the Convener of the Licensing Committee.
The Licensing Committee will review the applications and make recommendations to Member Digital Initiatives for renewal of the license.
The Convener of the Licensing Committee shall be responsible for the overall supervision of the system and the steps taken to address the problems encountered during the operation of the system.
Upon receipt of the application, the Board shall determine the approval of the brand, model and specification of the electronic fiscal device (EFD) by its nominating committee, which means that the system consisting of a cell data controller (SDC) and at least one point of sale (POS) shall be linked together.
During the accreditation process, the supplier must provide the licensing committee with access to information and equipment and any other assistance reasonably necessary to complete the process.
If the brand, model and specification of the EFD cease to comply with the specified parameters, the licensing committee may revoke the seller's permit.
A cancellation notice will be sent to the seller and such EFD operating supplier stating the reasons for cancellation.
The Licensing Committee will also immediately remove the details of EFDs from its website.
The FBR further said that the Licensing Committee shall approve or reject any application within fifteen days of the date of submission of the application, and shall state the reasons for approving or rejecting any application under the Rules.
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