Despite the Federal Board of Revenue’s (FBR) field formations opening on Saturday, taxpayers and importers were unable to deposit taxes at banks.
The Large Taxpayer Units (LTUs), Medium Tax Offices (MTUs), Regional Tax Offices (RTOs), and Corporate Tax Offices (CRTOs) were open and observed normal working hours on Saturday, according to FBR directives to the Inland Revenue field formations (May 7).
The banks were closed on Saturday, according to tax advisers, although the FBR’s field offices were open. However, due to the bank holiday on Saturday, taxes cannot be deposited.
Taxpayers can use an online system to deposit their taxes, although the bulk of them use Challans to deposit cash at the National Bank of Pakistan (NBP).
Around 90% of taxpayers, excluding businesses, deposit cash in banks, and the majority are unaware of the internet option for tax transfer or payment. As a result, just 10% of taxpayers, i.e. corporate entities, use online services to deposit taxes.
Saturday was not the end of the month, according to a tax expert.
The majority of taxpayers deposit their taxes in the last few days of the month. As a result, the taxpayers did not have to deal with bank closures on Saturday.
To read our blog on “Residents of 3 Chinese cities pay taxes and fees in digital yuan,” click here.
