Pakistan Revenue
National prize bonds (bearer or unregistered) are expiring this month and the bills will become a useless piece of paper after December 31, 2021. The government has set a deadline of December 31, 2021, to withdraw bearer bonds with denominations of Rs7,500, Rs15,000, Rs25,000, and Rs40,000. READ MORE: History of Prize Bonds in Pakistan The […]
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KARACHI: State Bank of Pakistan (SBP) has made Rs5 denomination prize bond as part of its museum. Prize Bond, as the name suggests, are Bonds issued by a Government, which do not promise any interest, but award a prize, determined by a draw held at fixed date or regular intervals. Prize Bonds are investment and […]
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The finance division has notified extension in date for exchanging / conversion of bearer prize bonds from September 30, 2021 to December 31, 2021. The date has been extended for unregistered (bearer) prize bonds in denomination of Rs40,000/-, Rs25,000/- and Rs15,000. In order to comply with the Financial Action Task Force (FATF) for the prevention […]
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Bearer prize bonds of major denominations including Rs40,000/-, Rs25,000/- and Rs15,000/- will become worthless after September 30, 2021 if no date extension announcement comes from the government. The last date for encashment or exchanging the bearer prize bonds with denominations of Rs40,000/-, Rs25,000/- and Rs15,000 is September 30, 2021, which was already extended from May […]
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KARACHI: The last date to exchange or encash the unregistered of bearer prize bonds with denominations of Rs40,000, Rs25,000, and Rs15,000 is September 30, 2021. According to a circular issued by the State Bank of Pakistan (SBP), the Finance Division, Government of Pakistan has allowed to exchange/replace or convert Rs40,000, Rs25,000, and Rs15,000 denomination prize […]
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Federal Board of Revenue (FBR) has issued updated rates of withholding income tax on winning of prize bonds during fiscal year 2021-2022. The withholding tax rates have been updated after incorporating changes made through Finance Act, 2021. WITHHOLDING TAX CARD 2021-2022 The FBR collects withholding tax under Section 156 of the Income Tax Ordinance, 2001. […]
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ISLAMABAD: The finance division has extended last date for redemption of bearer prize bonds Rs40,000 and Rs25,000 denominations up to September 30, 2021. According to notifications issued by the Finance Division the last date for redemption of Rs40,000 denomination bearer prize bonds has been extended up to September 30, 2021. Similarly, the last date for […]
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ISLAMABAD: Regulators are at odds over the last date for conversion/redemption of Rs40,000 denomination national prize bonds, which created distress amongst the prize bondholders. A public notice was issued by the Central Directorate of National Savings (CDNS) in February 2021, that the government had discontinued the sale of National Prize Bonds (Bearer) of Rs25,000 and […]
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ISLAMABAD: The finance ministry on Thursday announced that national prize bonds of denominations Rs7,500 and Rs15,000 shall not be sold with immediate effect. In different notifications the finance division announced to withdraw the prize bonds of denominations Rs7,500 and Rs15,000 from circulation with immediate effect. According to the notifications: “… Prize bonds of Rs7,500 denominations […]
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ISLAMABAD: Investors have redeemed/enchased to the tune of Rs115 billion against bearer prize bonds of Rs25,000 denomination which were suspended by the government in December 2020. According to state media on Tuesday, the Central Directorate of National Savings (CDNS) had paid encashment of Rs 115 billion by February 28 to the investors against the suspension […]
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