UPDATES

e-payment limit of taxes abolished

Payment of customs duty and taxes of more than Rs 1 million will also be accepted through e-payment after January 20.

To this end, a joint meeting has been convened by the State Bank of Pakistan through video link at the request of the Karachi Customs Agents Association. (KCAA). Attended by more than 60 regional heads of all the nominated banks and representatives of the association on the second day. Decision taken in meeting that for payment of duties and taxes, any amount can be paid by check at any branch of the same bank for issuance of pay order by using PSID. However, in case of any differences, the additional tax will be collected in cash. If tax is less than the check amount, the additional amount will be credited to the taxpayer’s account.

“Without limit taxpayers now allowed to pay any amount like customs duty and tax”. He said, adding that corporate customers also allowed to pay through traditional banking (pay orders and checks). If they are unable to pay taxes and duties online. But if the corporate sector can manage e-payment, this facility will also be available to them.

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It also decided to provide all facilities to the corporate sector including online banking, ATM cards etc. Further added that Standard Chartered, Samba Bank etc. have already provided online facilities to the corporate sector.

Top-Tax-Consultants-Lahore-Pakistan-Global-Tax-Consultants
A d v e r t i s e m e n t

Earlier the taxpayers faced a delay of 2 to 3 days in getting the acknowledgment slip of tax payments. If the legal payment completed through e-payment and now the issue resolved during the meeting. Due to which the direction of the competent authority could be ensured. Generation of real-time acknowledgment payment vouchers.

Source | Online Tax payments | e-Payment of taxes | Payment of Taxes | Banks | State Bank of Pakistan | FBR | Federal Board of Revenue |

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