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Tag: prize winnings

  • Nasira Anjum gets bumper prize of FBR’s 5th POS invoice draw

    Nasira Anjum gets bumper prize of FBR’s 5th POS invoice draw

    ISLAMABAD: Nasira Anjum, a customer of Imtiaz Provision Store, has been awarded with the bumper prize of Rs 1 million in fifth computerized draw conducted by the Federal Board of Revenue (FBR) on Monday.

    The computerized balloting was conducted on the basis of invoices issued by Point of Sales (POS) of Tier-1 Retailers.

    READ MORE: FBR announces prize winners of 4th POS invoice draw

    The second prize of Rs500,000 each won by Shahida Latif on the invoice issued by Shaheen Chemist and Muhammad Rashid Shujja on the invoice issued by Jalal Sons.

    Meanwhile, four prizes of Rs250,000 each awarded to Salman Ahmad Siddiqui, Fahim Badar, Nauman Alfred and Naila Nadeem on the invoices issued by Mine Save Mart, Imtiaz Provision Store, Imtiaz Provision Store and Dwatson Chemist, respectively.

    It was the fifth computerized draw of the ongoing efforts of the Federal Board of Revenue (FBR) to attract people for documenting the sales made through Tier-1 retailers.

    READ MORE: FBR announces winners of third POS invoice draw

    The FBR conducts draw every 15th of the month. This month the 15th was on Sunday so it was held a day after. The first draw was held on January 15, 2022.

    The FBR encouraged people to actively participate in the balloting to win prizes after buying from POS integrated retailers.

    The FBR previously issued a procedure for participating in the prize scheme.

    The revenue body said that the customers of the integrated tier-1 retailers, whose names and CNICs are notified through random computerized draw shall be entitled to prizes in respect of their purchases from the integrated tier-1 retailers.

    READ MORE: FBR announces prize winners in second POS invoice balloting

    The customers are required to verify the electronically generated invoice of integrated retailers either through the “tax asaan” application or by sending SMS to number 9966.

    The application shall notify the customer regarding the status of the invoice either as “verified” or “unverified”.

    In case of a verified invoice, the customer shall furnish one time, the following detail to the online system, namely:- Name; CNIC; and Mobile number.

    Names and CNICs of the customers shall be included in the random computerized draw upon fulfillment of the requirement.

    READ MORE: FBR announces winners of first POS prize draw

    In case of an unverified invoice, the customer shall report the same through the system. The Board shall conduct inquiry and take appropriate action under the relevant provisions of law.

    The computerized draw for the prizes shall be held in the first week of every month at the FBR Headquarters and the invoices of the immediately preceding month shall be entered in the draw.

    Draw winners shall be required to perform biometric verification, at the nearest e-sahulat facility of NADRA and submit a scanned copy on the “tax assan” application. After successful biometric verification, winners shall be required to provide their IBAN through a “tax asaan” application.

    The total prize money and the denomination of the prizes shall be decided on month to month basis by the Board.

  • FBR announces winners of first POS prize draw

    FBR announces winners of first POS prize draw

    ISLAMABAD: The Federal Board of Revenue (FBR) on Saturday announced the winners of the first draw of prize scheme on invoices obtained from Point of Sales (POS).

    According to the FBR, the bumper prize of Rs one million has been won by Tanveer Ahmed.

    The second prize of two each Rs0.5 million has been won by Aftab Ahmed and Farhan Akram.

    For further details please download the draw

    The FBR said that thousands of prizes worth a hundred thousand rupees had been distributed through the draw.

    Those buying from POS integrated retailers in the month of December 2021 were included in the balloting.

    The revenue body encouraged people to actively participate in the balloting to win prizes after buying from POS integrated retailers.

    READ MORE: Prize scheme on invoices issued by retailers

    The FBR previously issued a procedure for participating in the prize scheme.

    The revenue body said that the customers of the integrated tier-1 retailers, whose names and CNICs are notified through random computerized draw shall be entitled to prizes in respect of their purchases from the integrated tier-1 retailers.

    The customers shall verify the electronically generated invoice of integrated retailers either through the “tax asaan” application or by sending SMS to number 9966.

    The application shall notify the customer regarding the status of the invoice either as “verified” or “unverified”.

    In case of a verified invoice, the customer shall furnish one time, the following detail to the online system, namely:- Name; CNIC; and Mobile number.

    READ MORE: FBR launches prize scheme for POS customers

    Names and CNICs of the customers shall be included in the random computerized draw upon fulfillment of the requirement.

    In case of an unverified invoice, the customer shall report the same through the system. The Board shall conduct inquiry and take appropriate action under the relevant provisions of law.

    The computerized draw for the prizes shall be held in the first week of every month at the FBR Headquarters and the invoices of the immediately preceding month shall be entered in the draw.

    Draw winners shall be required to perform biometric verification, at the nearest e-sahulat facility of NADRA and submit a scanned copy on the “tax assan” application. After successful biometric verification, winners shall be required to provide their IBAN through a “tax asaan” application.

    The total prize money and the denomination of the prizes shall be decided on month to month basis by the Board.

  • Tax rates on prize bond winning for tax year 2021-2022

    Tax rates on prize bond winning for tax year 2021-2022

    The Federal Board of Revenue (FBR) has outlined the income tax rates applicable to prize bonds and lottery winnings under the recently updated Income Tax Ordinance, 2001, for the fiscal year 2021/2022.

    (more…)
  • FBR advised to amend withholding tax on prize winnings

    FBR advised to amend withholding tax on prize winnings

    KARACHI: Federal Board of Revenue (FBR) has been advised to amend the income tax law related to withholding tax deduction on prize winnings.

    Pakistan Business Council (PBC) in its budget proposals for 2020/2021 submitted to the FBR said that under Section 156 of the Income Tax Ordinance, 2001 requires a company to deduct 20 percent tax on “prize offered by companies for promotion of sale”.

    The PBC suggested amended in the Section 156 that every person paying prize of prize bonds, or winning from a raffle, lottery, prize on winning a quiz, prize offered by companies for promotion of sale to end consumers, or cross-word puzzle shall deduct tax.

    The PBC said that the clear intention of this section is to capture tax through withholding at source from persons who are recipients of these prizes or winnings; the intention is not to tax any person who belongs to the supply chain of the companies who offer prize for promotion of sales.

    The income of the supply chain i.e. dealers, distributors is subjected to withholding tax in the shape of withholding taxes imposed under separate withholding regimes.

    It is therefore suggested that to clear any ambiguity in law regarding application of this section, it may be amended to add the term “end consumers” to oust any person in the supply chain from the ambit of this section.