Islamabad: The Federal Board of Revenue (FBR) has announced a prize scheme for buyers who shop from the POS-integrated tier-1 retailers, according to news published on Monday (December 13).
As per the details, the winners will be selected through a computerised ballot who will get a chance to win a lot of prizes worth thousands of rupees. The prize scheme was introduced through Finance Act-2021, followed by the issuance of rules for the prize scheme on August 9, 2021. Sharing more details, it was disclosed that the computerised balloting will be held on the 15th of every month, starting from January 2022. The first prize has been set at PKR 1,000,000, two-second prizes set at PKR 500,000, four third prizes at PKR 250,000 and 1,000 prices at PKR 50,000 each. The total prize will amount to PKR 53 million, which will be distributed among 1,007 winners each month.
Moreover, the FBR’s said prize scheme will help maximise transparency and decrease revenue leakage through monitoring of the sales. It will also ensure that the collected tax is deposited in the state exchequer. Through this initiative, the tier-1 retailers will expedite the integration of the POS system and customers will be encouraged to shop from POS-integrated retail outlets. Reportedly, the buyers can participate in the ballot by verifying their receipts from Tax Asaan Mobile App or sending the invoice number on 9966 through an SMS.