ISLAMABAD: The Federal Board of Revenue (FBR) has launched the much-awaited prize scheme for the shoppers from POS-integrated Tier-1 retail outlets, a statement said.

Thousands of prizes worth hundreds of thousands of rupees will be distributed among the shoppers through a computerised ballot, who opt to shop from the POS-integrated retail outlets spread across the country.

The prize scheme was introduced through the Finance Act 2021, which was followed by issuance of rules for the prize scheme on August 9, 2021 by the FBR.

The computerised balloting for the prize scheme will be held on 15th of every month, the first one on January 15, 2022 at the FBR headquarters, Islamabad.

Initially, the denomination of prizes was set at Rs1,000,000 (first Prize), two prizes of Rs500,000, four prizes of Rs250,000 and 1,000 prizes of Rs50,000 each. Thus, a total prize money of Rs53 million will be distributed among the lucky 1,007 winners, every month.

This lucrative prize scheme of the FBR aims at maximising transparency and plug revenue leakages through real-time monitoring of sales. It also aims at ensuring that the tax collected from the customers at the point of sale is deposited in the national exchequer. This will not only force the Tier-1 retailers to expedite the integration of their retail outlets with the FBR POS System but will also encourage the customers to prefer shopping from the POS-integrated retail outlets.

The FBR is expecting a substantial increase in the revenue through this innovative initiative, as it will reduce tax evasion and minimise concealment of sales by the retailers.

The customers can participate by verifying the receipt of purchases through the Tax Asaan Mobile app of the revenue board or by sending the invoice number through an SMS on 9966.

The FBR has launched a very aggressive print and electronic media campaign for the awareness of the people across the country. They can also get assistance by following the FBR’s social media handles on Twitter, Facebook and YouTube or call on FBR Helpline 111772772.

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