Why NBR Takes Financial Incentive For Consumers

According to the plan of the revenue board, The National Board of Revenue (NBR) will arrange financial incentives (lottery) for consumers, which will be conducted once every two months and 20 winners among the registered consumers will receive a prize bond.  

It is reported that NBR took such action was aiming to enhance consumer awareness and encourage them to receive electronically generated VAT (value-added tax) invoices through the electronic fiscal devices (EFD) under the VAT online system and more positively ask traders for the invoice.

Up to now, the revenue board has made it mandatory for 25 types of shops and service providers to use EFD or point of sales (POS) software which enables to ensure proper VAT collection from the sectors through ensuing accurate records of transactions and sales, Telpo fiscal device is one example. 

As Telpo fiscal device supports the fiscal module and printer function, the consumer can quickly receive the receipt or invoice after they purchase their commodity. And then, the consumer can register his invoice number on the revenue board online system, making the approval code and QR code printed on the invoice eligible for the lottery.

If consumers hope to win the lottery, they must register their invoice number on the revenue board online system, which will push merchants to install EFD or POS to a certain extent.

Nowadays, residential hotels, restaurants, clothing stores, electronic or electrical household items sales stores and so on shops and service providers have already adopted EFD or POS under the mandatory policy and consumer intention.

Tag: financial incentive, lottery, EFD, POS, NBR, fiscal device, TPS575　

Brief Introduction: Telpo is a professional smart payment partner who focuses on the ODM service 20 years. It mainly provides the EFT-POS, cash registers, biometric devices, face recognition machines, self-service kiosks, and bus validators. Telpo has served for more than 1000 customers abroad, including government, banks, Telecom operators, police stations, Retail shops, and offices. Telpo adheres to R&D and innovation, aiming to provide more intelligent hardware for global partners.