FBR Tax Collection Made Easy: Tending News Banks to Remain Open on 29 and 30 April 2023 for Tax Payment

FBR Tax Collection

FBR Tax Collection is a vital revenue source for Pakistan’s government. Why is that so? it is because it supports various public welfare s and projects. To ease the payment of state duties and taxes, the Federal Board of Revenue has revealed that all trusted bank branches will remain open on April 29th and 30th, 2023.

The bank fall under this is the National Bank of Pakistan (NBP) branches and field offices of SBP Banking Services Corporation (SBP-BSC). These branches will also observe prolonged working hours till 6:00 p.m. to offer more time for taxpayers to submit their taxes via ADC’s Over-the-Counter (OTC) facility.

They made this decision in response to the Federal Board of Revenue’s request to boost revenue to meet earnings targets. This blog post will offer an overview of the recent news about taxes, the bank timings during the weekend, and the reasons behind extending the date.

Reason For Opening Banks on the Weekend For FBR Tax Collection 

The authorized bank branches will remain open April 29th and 30th. So, all the branches of trusted banks will observe prolonged working hours till 6:00 p.m. 

Under this, the following banks fall:

  • National Bank of Pakistan (NBP) branches 
  • field offices of SBP Banking Services Corporation (SBP-BSC)

They decided to open the bank to help the taxpayer pay a visit on the weekends during regular working time. For them, an Over-the-Counter (OTC) facility will also be available during these extended hours. Hence it offers a suitable option for taxpayers to submit their taxes.

Same- Day clearing

Also, to ensure the same-day clearing and settlement of payments deposited at NBP’s official branches for customs collection will remain open. The NIFT will arrange clearings at 1:00 p.m. on April 29th and 6:00 p.m. on April 30th. 

What is the aim?

These measures seek to make it more handy and suitable for taxpayers while offering the state maximum participation and payment collection.

Summary

In conclusion, the decision to keep assigned bank branches open on April 29th and 30th. Also, extending the date is a positive step toward improving revenue. The best part is that it will ease the burden on taxpayers. 

By offering timely and accessible choices for the it, the state is encouraging more people to partake in the system. By this, they will contribute to the growth of the country. It is vital to note that taxes are a crucial source of revenue for any government. Hence, every citizen must fulfill their duty by paying their due share of taxes. 

Therefore, it is admirable that the Federal Board of Revenue and the state are taking steps to make it more straightforward and more efficient for taxpayers. Hopefully, these measures will lead to higher revenue, which can be used to grow the country and its people.

Learn More

If you want to learn more about this type of news, follow AMY Consulting’s social media handles. For any help in taxation, feel free to consult us.

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