ISLAMABAD: The Federal Board of Revenue (FBR) on Monday issued a procedure for a prize scheme for customers who obtained invoices from retailers integrated with the tax authorities.
According to the procedure for a prize scheme, the provisions of application would apply to the customers of tier-1 retailers who have integrated their retail outlets with the board’s computerised system for real-time reporting of sales and mystery shopping in respect of verification of invoices from such retailers.
The customers of integrated tier-1 retailers, whose names and CNICs are notified through random computerised draw, would be entitled to prizes in respect of their purchases from the integrated tier-1 retailers.
The customers would verify the electronically generated invoice of integrated retailers either through “Tax Asaan” application or by sending SMS to 9966. The application would notify the customers regarding the status of invoice either as ‘verified’ or ‘unverified’.
The procedures also noted that in case of verified invoice, the customer would furnish one time, the following detail to the online system, Name; CNIC; and mobile number. The names and CNICs of the customers would be included in the random computerised draw upon fulfilment of the requirement of sub-rule (4).
The computerised draw for the prizes would be held in the first week of every month, starting from the month of August 2021 at the FBR headquarters and the invoices of the immediately preceding month would be entered in the draw.
The draw winners would be required to perform biometric verification, at the nearest e-Sahulat facility of the National Database Registration Authority (Nadra) and submit scanned copies of the “Tax Assan” application.
After successful biometric verification, the winners would be required to provide their IBAN through the “Tax Asaan” application. The total prize money and the denomination of the prizes would be decided on a month-on-month basis by the board.
Meanwhile, the tax practitioners have demanded the Federal Board of Revenue (FBR) to notify simplified return forms for the small and medium enterprises (SMEs).
In a letter to FBR Chairman Asim Ahmad on Monday, the Karachi Tax Bar Association (KTBA) said the taxpayers of SMEs are facing difficulties due to unavailability of the registration feature and simplified return forms.
The KTBA appreciated the revenue board for removing anomalies towards simplifying the tax laws. It said during the preceding year, the FBR simplified returns of income for traders up to Rs10 million turnover and for the manufacturers up to Rs50 million turnover.
Likewise, during the present year, a host of anomalies and exceptions in both direct and indirect tax laws have been addressed through the Finance Act, 2021.
“A whole new and simplified tax regime has been introduced for the SME taxpayers, who are engaged in manufacturing by way of introducing Section 100E read with subsection 59A of Section 2 and 14th Schedule to the Income Tax Ordinance, 2001.”
The KTBA said Section 100E, the new tax regime for SMEs, has been made applicable from the tax year 2021 onwards.
“However, it is not helpful that simplified return for this purpose as required under Section 100E is yet to be notified by the FBR, especially when the process of filing of return of income for other income/business streams had timely been notified and kicked off.”
Similarly, the SME taxpayers are required to register with the tax authorities under the ordinance. “However, the registration feature for the SMEs is yet not available on the web portal of FBR, which also needs attention,” the tax bar added.
The KTBA urged the FBR chairman to enable both the provisions of simplified return and registration process to facilitate the taxpayers of the SME sector. – TLTP