State Bank to Register Rs.40,000 Prize Bonds

prize bonds

On Wednesday, the Federal Board of Revenue—FBR announced that the State Bank of Pakistan has taken the decision to register Rs.40,000 prize bonds. A circular pertaining to this effect would be issued by the SBP within the span of the next 2 days.

As per the news of local media, FBR also mentioned that nearly five thousand people have filed applications for the Assets Declaration Scheme.

FBR in a statement said that the number of applicants for the scheme is surging with passing time.

It added that the registration of prize bonds would help in raising the number of people who apply for the amnesty scheme.

The taxation authority has said that it has gathered the data of the people who had bought luxurious and costly automobiles.

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The banks would also give all their collected data to the FBR by the 15th of June, as informed by the officials.

As per FBR, citizens could make use of their economic data from the National Database Registration Authority—NADRA with the payment of Rs.500 fees.

Furthermore, the data of nearly four million people could be received online from the FBR and that too without cost.

Previously, the Federal Board of Revenue disproved reports in a statement emerging in some sections of press mentioning that the new Finance Bill has granted permission to the non-filers to buy property or cars.

In the issued clarification it said that the actual position is that the whole system of identifying a non-filer as a legal body has been done away with the new Finance Bill.

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