State Bank will announce registration of Rs 40,000 prize bonds: FBR

ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday announced that the authorities have decided registration of Rs 40,000 prize bonds and a circular to this effect will be issued by the State Bank of Pakistan within two days.

According to ARY News, the FBR also said that around 5000 people have filed applications for the Assets Declaration Scheme.

The FBR in a statement said that the number of applicants for the scheme is increasing with the passing time.

The FBR said that the registration of prize bonds will help increasing the number of people applying for the amnesty scheme.

The taxation authority has said that it has also collected the data of the people who had purchased expensive and luxury vehicles.

The banks will also provide all their data to the FBR by June 15, officials said.

According to FBR, citizens could avail their economic date from the National Database Registration Authority (NADRA) with payment of 500 rupees fees.

Moreover, the date of around four million people could be received online from the FBR free of cost.

Earlier, the FBR in a statement refuted reports appearing in some sections of press which states that the new Finance Bill has allowed the non-filers to purchase immovable property or cars.

In a clarification the taxation authority said the actual position is that the whole system of recognizing a non-filer as a legal entity has been done away with in the new Finance Bill.