FBR orders tyre makers to install output monitoring by November 30
Registered manufacturers must record production in real time and send the data to tax authorities, joining eleven sectors already under the regime.
The Federal Board of Revenue has directed all registered tyre manufacturers to install electronic production monitoring systems by November 30, Dawn reported, bringing another industry under a tax surveillance regime that already covers eleven other sectors.
The systems must record production in real time and transmit the data to tax authorities, according to the report. The direction applies to registered manufacturers. Dawn did not say how many plants are covered, what a missed deadline would cost a company, or how the board will verify that equipment has been installed and is working.
Sectors already under electronic production monitoring, the report said, are packaged tea, household electronics, paper and paperboard, edible oil and ghee, leather, textile spinning, tiles, packaged milk, packaged juices, bottled water and aerated beverages.
The tyre industry is the newest addition to that list. Dawn described the directive as part of a wider FBR plan, but its report did not set out the plan's other elements or the extra revenue the board expects monitoring of tyre output to raise.
Ua.News also carried news of the directive, crediting Dawn.
The board issued the order on Friday, roughly a month before the deadline it has set for manufacturers to have the systems running.
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