Tuesday, 28 May 2024

Taxpayer bound to make e-payment of duties and taxes over Rs 1 million: FBR

Mohsin Rafique of Collector Customs Appraisement Lahore informed in a seminar held at APTMA, Lahore that from January 20, 2021, all duties and taxes of more than one million will be paid through e-payment system only.

Mohsin Rafique informed the participants that as per the requirements of FATF and as a direction towards digitization and automation of the economy, the federal government has now bound to all importers to pay duty and taxes of over Rs. 1 million through internet banking, mobile banking and other e-payment sources only approved by the State Bank of Pakistan.

Payment of all FBR taxes as well as some provincial taxes have been introduced for easy and hassle-free payment. On the one hand, traders can electronically pay all import duties and taxes through the customs computerized system WeBOC at ports and border stations across Pakistan. On the other hand, taxpayers can also pay income tax, sales tax and federal excise duty electronically from their homes. This allows to taxpayers and traders to pay online duty and taxes as well as provincial cess and stamp duty. Provides round-the-clock service. This facility is available through internet and mobile banking using 16,000 over-counters (OTC) of more than 15,000 ATMs of commercial bank branches spread across the country.

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Proportion of e-payments of taxes

Proportion of e-payments of income tax, sales tax and federal excise duty increased from 6.26% during July-December. During the comparative period of this year, the proportion of deposits in these e-payments has increased. From 13.55 per cent to 76.5 per cent of the total payments.

A d v e r t i s e m e n t

e-Payment of taxes across the country

Currently 18.6% of import duties and taxes are being collected through Pakistan Customs through e-payment system. In the last six months, e-payment cleared more than 80,000 appliances, accounting for about 22% of total imports. Apart from major cities like Karachi, Lahore, Islamabad and Peshawar. Importers in remote areas and Taftan and Khanjrab are also benefiting from this facility.

Source | FBR | Federal Board of Revenue | Duty & Taxes | Taxpayers | Traders | e-Payment | State Bank of Pakistan | Customs |



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