ISLAMABAD: The Federal Board of Revenue (FBR) announced on Friday the long-awaited pricing program for customers shopping at integrated point of sale (POS) retailers across the country, which would vote Rs 53 million in prizes each month .
The first prize of Rs10.00,000 will be given to the winner who will receive a receipt for the purchase from the retailers integrated with POS devices. Four prizes, each worth 250,000 rupees, will be awarded. 1,000 prizes of 50,000 rupees each will be awarded. A total of 53 million rupees will be awarded prizes among winners who receive POS-integrated receipts for their purchases.
The government decided to announce the pricing programs to encourage customers to purchase from the retailers who are part of the POS integrated system to pay their discounted GST rate. This is part of the documentation exercise to broaden the narrow tax base.
The government estimated that total retail transactions were Rs 18 trillion, but the government recorded only Rs 3.5 trillion.
The government announced this pricing program on the eve of the last 2021-22 budget, but it took six months to implement. According to the FBR, the first vote on winning the prizes should take place on January 15, 2022 at the headquarters of the Executive Board.
The prices include all those customers who would buy something from the POS-integrated retailers in the current month (December 2021), said the FBR spokesman. The FBR has also decided to launch an advertising campaign from December 11th.
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