LAHORE – Excitement builds around the 1,500 Prize Bond balloting which is scheduled for February 17, 2025, Monday, and all eyes are on National Savings Division. For a handful of lucky winners, those raking in money need to pay hefty taxes.
As scores of Pakistanis await the results, new rules for prize bond winners have added an extra layer of anticipation and preparation. In an important update, bondholders should be aware of the tax deductions that will apply to any prize winnings.
1500 Prize Bond Feb 2025
As per new rules, tax filers will be subject to a 15 percent tax on prize earnings, while non-filers will face 30pc tax on amount they win. This marks major change in tax structure for Prize Bond winners, which may affect the total amount received by those fortunate enough to claim a prize.
| Prize | Amount | Tax Filer | Tax Non-Filers |
| First Prize | 3,000,000 | 450,000 | 900,000 |
| Second Prize | 1,000,000 | 150,000 | 300,000 |
| Third Prize | 18,500 | 2,775 | 5,550 |
The table shows how prize winnings are taxed differently based on whether the winner is a tax filer or a non-filer. For each prize, the tax is calculated at a rate of 15pc for tax filers and 30pc for non-filers.
For first prize of 3,000,000 would be taxed at 450,000 for a tax filer, while a non-filer would pay 900,000. The second prize of 1,000,000 would result in 150,000 in taxes for a tax filer and 300,000 for a non-filer. The third prize of 18,500 is taxed at 2,775 for tax filers and 5,550 for non-filers. Essentially, tax filers pay a lower tax amount compared to non-filers, reflecting the different tax rates applied to them.
