Saudi Arabia News
Point of Sale Systems Complusory in Shops in Saudi
According to the news from Saudi Gazette the Ministry of Commerce and Investments have proposed and still finalizing a plan to track each and every business transaction. In order to do so all the shops and commercial establishments must use Point of Sale (POS) systems, which can minimize the practice of tasattur where expatriates carry out business in the name of Saudi Nationals.
Ministry of Commerce and Investments have plans to announce this after 4 weeks and implement it by the end of this year.
Main Objective of usage of Point of Sale systems in each and every small and medium businesses and shops is to end tasattur and track every business transaction.
Revenues made by the points of sale in the first quarter of the year 2017 reached about SR46.2 billion with a growth of 6.1 % compared to revenues made during the same period last year.
The sources said the sales went up by 1.9 percent to reach SR852 million compared to last year.
With 15,100 operations, the sector of services and various commodities represented about 30 % of sales through the points of sale (POS) with turnovers of SR13.87 billion.
The services were followed by clothes and footwear sectors, which grew by 12.3 % to reach SR5.6 billion through 21,700 sales operations.
The food and drinks sector, with 37,600 operations, grabbed about 24.3 % of the sales followed by hotels and restaurants, which increased by about 20.4 %.
Healthcare came third with a growth of about 15.3 %.