Thursday, June 20, 2024

    FBR Announces Prize Scheme For Customers Buying Products From POS-linked Retailers

    Prizes worth millions of rupees would be distributed under the scheme after a balloting process

    KARACHI: Federal Board of Revenue (FBR) has announced a prize scheme for customers buying products from retailers linked with the point of sale (POS) machines.

    According to the FBR spokesman, prizes worth millions of rupees would be distributed under the scheme after a balloting process. The FBR also said that the prizes worth of millions rupees would be given through lottery every month. The first phase of which would be held on January 15 at the FBR headquarters.

    The FBR spokesman said that the first prize on POS would be one million rupees, two prizes of Rs0.5 million & four prizes will be included Rs 0.2 million. While one thousand prizes worth of 50,000 will also be given. The FBR will allocate 53 million per month for prize scheme.

    “This balloting process will include customers who will buy products from POS-linked retailers in December 2021,” the spokesman said, adding that they would be launching an advertising campaign to guide the general public.

    The FBR had begun implementation on the point of sales (POS) system by the end of July, bringing retailers into the tax net.

    According to the FBR, a mechanical system would be introduced for tax collection from retail shops, shopping malls, and departmental stores.

    “We will complete the survey of tiles and sanitary market in Gulbahar during the ongoing month and will begin tax collection through the mechanism by July end,” Commissioner FBR Kazi Afzal said and added that a 200 percent increase in point of sales is expected in the ongoing month.

    He said that point of sales will increase to 150 by July 31. The commissioner further said that some reservations have been shared by the tiles association, however, they would be resolved after talks.

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