FBR to conduct prize draw for POS customers in first week of August

Shahnawaz AkhterWeb Editor

06th Jul, 2021. 04:41 pm

KARACHI: The Federal Board of Revenue (FBR) will conduct the first prize draw for those Point of Sales (POS) that are connected with the online system of the tax organisation on the basis of purchase receipts in the first week of August 2021, official sources said on Tuesday.

The sources said the draw will be held in the presence of Finance Minister Shaukat Tarin. The winner will get Rs1.5 million, while hundreds of other prizes would also be distributed.

In the Federal Budget 2021/22, the government announced a lucky draw of receipts issued through POS to encourage documentation of sales.

The customers making purchases at the outlets of Tier-1 retailers should ensure receipts from their POS machines and that should carry QR codes, the sources said, adding: “The customers should verify the authenticity of the receipts from Tax Assan Application of the FBR, and, If the same is not verified, they should report to the FBR,” a senior official of the revenue board said.

Previously, the FBR had announced to pay back 5 per cent of the sales tax paid on the purchases. However, this rebate scheme was abolished and instead the prize draw scheme was introduced, the official added.

The official also said so far 8,000 big retailers had integrated with the FBR’s online system to share information of buying and selling from their outlets.

Further, 8,750 branches of the Tier-1 retailers were connected with the FBR. Meanwhile, 11,200 POS of these retailers are now online for issuing receipts to the customers that will be part of the prize draw, the official added.

Through the issuance of the receipts it would also help the Tier-1 retailers in preparing sales tax returns automatically. The Tier-1 retailers are required to connect all the POS with the FBR system. To ensure all the POS are connected the FBR formed a number of teams to pay surprise visits at the outlets.

The government through the recent budget announced various tax and duty incentives to promote sales through POS. In this regard, Tier-1 retailers have been granted 100 per cent tax credit against the amount invested for import/purchase of POS.

Adsense 300 x 250