FBR announces multi-million prize scheme for POS consumers

KARACHI: Federal Board of Revenue (FBR) has announced a prize scheme for consumers buying products from retailers linked with the point of sale (POS) machines of the tax authority, ARY NEWS reported.

According to the FBR spokesman, prizes worth millions of rupees would be distributed under the scheme after a balloting process, the first phase of which would be held on January 15 at the FBR headquarters.

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

The Federal Board of Revenue (FBR) had begin 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.

Kazi Afzal further shared that a survey for furniture markets in Nursery and Manzoor Colony has also been completed and notices of Rs 1 million fine would be issued to retail shopkeepers for introducing point of sales mechanism.

The bakeries and nimco shops will also have to register under the mechanism and 400 notices have been issued to them for registration.