Islamabad: The Federal Board of Revenue (FBR) has decided to discontinue the computerised ballot of its flagship initiative – Point of Sale (PoS) Invoicing Prize Scheme till January 31, 2023, according to news published on November 16.
As per the details, the board has suspended SRO 1005 of 2021 regarding the POS Prize Scheme till January next year. This decision was taken to make the scheme more inclusive and participatory for the general public.
The FBR has amended the Sales Tax Rules, 2006, according to which the amended rules will not have any effect during the period starting on November 15 and ending January 31, 2023. The news source mentioned that all the invoices verified during the suspension period will be included in the next prize draw.
Moreover, the FBR disclosed that the new scheme will be launched after a discussion with the Tier-1 retailers, issuers, card acquirers, and other stakeholders. It was mentioned that the new scheme will be launched soon.
It is important to note that every month, the FBR distributes prizes of PKR 54 million among the 1,017 lucky draw winners. So far, the board has held 10 computerised ballots of the PoS prize scheme.
Iqra holds BS in International Relations and is passionate about writing engaging content on trending real estate topics. When not working, she is either spending time with family, shopping, or discussing shows & movies.
