FBR launches prize scheme on POS system

ISLAMABAD: The Federal Board of Income (FBR) has launched the much-awaited prize scheme for the consumers from POS-integrated Tier-1 stores, a press release stated.

Hundreds of prizes price a whole lot of 1000’s of rupees shall be distributed among the many buyers by way of a computerised poll, who decide to buy from the POS-integrated stores unfold throughout the nation.

The prize scheme was launched by way of the Finance Act 2021, which was adopted by issuance of guidelines for the prize scheme on August 9, 2021 by the FBR.

The computerised balloting for the prize scheme shall be held on 15th of each month, the primary one on January 15, 2022 on the FBR headquarters, Islamabad.

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Initially, the denomination of prizes was set at Rs1,000,000 (first Prize), two prizes of Rs500,000, 4 prizes of Rs250,000 and 1,000 prizes of Rs50,000 every. Thus, a complete prize cash of Rs53 million shall be distributed among the many fortunate 1,007 winners, each month.

This profitable prize scheme of the FBR goals at maximising transparency and plug income leakages by way of real-time monitoring of gross sales. It additionally goals at guaranteeing that the tax collected from the purchasers on the level of sale is deposited within the nationwide exchequer. This won’t solely pressure the Tier-1 retailers to expedite the combination of their stores with the FBR POS System however may also encourage the purchasers to favor procuring from the POS-integrated stores.

The FBR is anticipating a considerable improve within the income by way of this revolutionary initiative, as it can scale back tax evasion and minimise concealment of gross sales by the retailers.

The shoppers can take part by verifying the receipt of purchases by way of the Tax Asaan Cell app of the income board or by sending the bill quantity by way of an SMS on 9966.

The FBR has launched a really aggressive print and digital media marketing campaign for the attention of the individuals throughout the nation. They will additionally get help by following the FBR’s social media handles on Twitter, Fb and YouTube or name on FBR Helpline 111772772.

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