POS Invoicing Prize Scheme - Trendinginsocial

Continuing with monthly computer ballot for its innovative POS Invoicing Prize Scheme, Federal Board of Revenue (FBR) successfully organized fifth successive lucky draw at Lahore, last evening. In addition to 1007 lucky winners winning prizes worth Rs. 53 Million, another 10 individuals won prize of Rs.100,000 each, sponsored by Metro Stores Pakistan for its valued customers. This has taken the list of winners to 1017, winning total prizes worth Rs.54 Million. Hosted by the Federation of Pakistan Chambers of Commerce & Industry, it is the first Computerized Ballot organized out of FBR Headquarters, Islamabad. This unique monthly luck draw will now be organized in major cities across Pakistan to engage with all relevant stakeholders, mobilize public participation and, thus, maximize tax compliance by the retail sector.

In his welcome note, Mr. Irfan Iqbal Sheikh, President FPCCI, assured FBR of his fullest cooperation and hoped that all members of FPCCI and business community at large will stand behind FBR in collecting due tax from across Pakistan. He hailed POS as a unique digital intervention made by FBR to automate business processes and promote digitization in tax system. Sardar Ali Khawaja, Member Punlic Relations (FBR), thanked the FPCCI for hosting 5th POS Computerised Ballot at Lahore and highlighted the pivotal role of such meaningful synergies in bridging trust deficit between FBR and Taxpayers. Addressing on the occasion as chief guest, Mr. Qaisar Iqbal Member Operations-IR (FBR), reiterated that for the past few years, FBR had been vigorously pursuing its drive for digitization, transparency, and automation not only to document the economy but also to plug revenue leakages through a transparent tax system. He further emphasized that FBR will continue to maximize tax compliance through various innovative initiatives including POS Invoicing Prize Scheme. The ceremony was attended by senior officers of FBR, notable businessmen, office bearers of FPCCI, and representatives of electronic and print media.

This innovative Prize Scheme was launched to digitally monitor the sales made by Tier-1 Retailers across Pakistan to ensure that tax collected from customers was duly deposited into state exchequer, he further emphasized. It is pertinent to mention that in April 2022, over 370, 000 invoices were verified by around 48,000 customers who shopped from outlets integrated with FBR POS System. Likewise, over 48.0 Million invoices were issued in April by Tier-1 Retailers which are integrated with FBR POS System. This is a phenomenal increase in public participation and is likely to further grow with every passing day.

Furthermore, FBR has already distributed prizes worth Rs.212 million among 4028 lucky winners in four computerized ballots held in a transparent manner on 15th of January, February, March, & April 2022. Most of the fortunate winners have already got the prize money transferred into their bank accounts, after due diligence and necessary verification process. It is also worth sharing that people are showing huge interest in becoming part of this computerized draw, which is being regularly held on 15th of every month in the presence of mainstream national media to ensure transparency.