Traders oppose POS mechanism

LAHORE: The traders termed the induction of the Point of Sale (POS) mechanism at the brand stores a process of double taxation by the government and economically strangulating them.

Addressing a seminar here Friday, the traders’ leaders unanimously opposed the installation of the POS. The seminar was jointly organised by the Pakistan Business Forum (PBF) in collaboration with the All Pakistan Anjuman-e-Tajran (APAT) titling “Point of Sale (POS) and issues of small traders.

Opening up the session, PBF President Ejaz Tanveer said that traders are unanimously against the government’s decision of collecting tax from traders on the basis of the size of their business establishment(s) and installing POS system which he said was another way to charge double tax.

“The government is strangulating the businessmen economically through such measures, who are already hit hard by the COVID-19 pandemic,” he alleged. He claimed that the leadership of PBF and APAT would stay ‘united’ until the government addresses the issues of manufacturers, importers, retailers, distributors and wholesale dealers.

APAT Central General Secretary Naeem Mir said they would not allow POS at their business places. “When trader purchases goods, he pays all the taxes at that time, and collecting further taxes from them through POS mechanism is illegal,” he asserted.

He said that registration of business places in the sales tax on the basis of the area is discriminatory, adding that the system of turnover tax is also faulty.

According to Mir, the income tax should be collected through profit and loss account instead of the turnover tax. Presidents and leaders of major retail and wholesale markets also participated in the seminar and expressed their views on the occasion.