FBR set to introduce gift schemes

ISLAMABAD: Federal Board of Revenue (FBR) is all set to introduce gift schemes under Consumers Lucky Draw scheme in order to promote receipt culture from the upcoming financial year 2011-2012.“The government is working to document the country’s economy and process of receipt is part of it”, said an official of FBR while talking to TheNation.According to details, every buyer must take a receipt from the shopkeeper after purchasing a commodity or taking any service. Later, there would be balloting and buyers would be awarded with gifts under Consumers Lucky Draw scheme.According to the salient features of the “Consumers Lucky Draw” the government would allocate budget for the scheme to pay cash prices on monthly or quarterly basis. The scheme would play an important role in the documentation of economy by encouraging tax culture where receipts would be demanded from shop, retail outlets, shopping malls, hotels and restaurants etc.The consumers would submit the purchase receipts, sale invoices and other receipts to the FBR for participation in the draw. The FBR would offer a wide range of prices to the participants and use these invoices/ receipts to broaden the tax-base.

A grand function would be held at the FBR on regular basis to announce names of the winners. In this way, the FBR will be able to track all documented and undocumented business units and establishments with the help of data available with the general public.Sources said that the “Consumers Lucky Draw” would attract maximum consumers through awareness campaign under the drive to document the economy. He further added that this move is part of the government’s plan to document the country’s economy, as FBR is already working on this process. He was of the view that Pakistan’s one of the biggest problems is non-documentation of the economy due to which thousands of the people do not pay their due taxes. – Nation