ISLAMABAD: Federal Board of Revenue (FBR) has launched the much-awaited prize scheme for the shoppers from POS-integrated Tier-1 retail outlets. Thousands of prizes worth hundreds of thousands rupees will be distributed among the shoppers through a computerized ballot, who opt to shop from POS- integrated retail outlets spread all across the country.
The said prize scheme was introduced through Finance Act-2021 which was followed by issuance of rules for the prize scheme on 9th August, 2021 by FBR. The computerized balloting for the prize scheme will be held on 15th of every month, the first one on January 15, 2022 at FBR (HQs), Islamabad. Initially, the denomination of prizes has been set as Rs. 10,00,000 (1st Prize), Two prizes of Rs. 500,000, four prizes of Rs. 250,000 and one thousand prizes of Rs. 50,000 each. Thus, a total prize amount of Rs.53 Million will be distributed among the lucky 1007 winners, every month.
This lucrative Prize Scheme of FBR aims to maximize transparency and plug revenue leakage through real time monitoring of sales. It also aims to ensure that tax collected from customers at the point of sale is deposited in state exchequer. This will not only force the Tier-1 retailers to expedite the integration of their retail outlets with FBR POS System but will also encourage the customers to prefer shopping from the POS-integrated retail outlets. FBR is expecting a substantial increase in revenue through this innovative initiative as it will reduce tax evasion and minimise concealment of sales by the retailers.
Customers can participate by verifying the receipt of purchases through Tax Asaan Mobile App of FBR or by sending the invoice number through an SMS on 9966. FBR has launched a very aggressive print and electronic media campaign for the awareness of people across the country. They can also get assistance by following FBR’s social media handles on Twitter, Facebook and YouTube or call on FBR Helpline- 111772772.
Meanwhile, following a policy of zero tolerance against smuggling, Pakistan Customs (FBR) has seized smuggled goods worth more than Rs 10 million at Torkhan Border. As per details received, a vehicle bearing registration No KAB 465 entered Pakistan through Customs Station at Torkham Border, apparently loaded with yam .It was subjected to scanner and subsequent inspection. Upon detailed physical examination of the said vehicle, it was found out that it carried miscellaneous goods including suiting cloth, Indian origin hookah/chewing tobacco, rat poison, fire crackers and medicine etc, valuing Rs. 10.50 million, involving duty/taxes worth Rs. 7.9 million.
Total untaxed goods along with the vehicle have been seized by Pakistan Customs and FIR has been lodged against the arrested person.
Adviser to PM on Finance and Revenue, Shaukat Tarin has commended FBR for its ongoing crackdown against smugglers and appreciated its continued drive against tax evasion. Similarly, Dr. Muhammad Ashfaq Ahmed, Chairman FBR/Secretary Revenue Division, has lauded the unfaltering determination of Member Customs (Operations), Syed Muhammad Tariq Huda, who has led his team by example.
He also appreciated the Customs staff on duty at Torkham and announced cash awards and recognition certificates for the team. He reiterated his unflinching resolve against smuggling and reaffirmed that team FBR will continue to fight this menace in its all forms and manifestations.