Tax collection: SRB, Sindh Bank may enter into agreement soon

YASIR BABBAR

KARACHI: In a move to facilitate taxpayers, Sindh Revenue Board (SRB) and Sindh Bank would likely to reach an agreement very soon for authorisation of some bank-branches in various areas of the province, Business Recorder learnt here on Monday.

Informed sources inside the SRB told this scribe that this initiative had been taken by the Chief of Sindh Bank who visited SRB head-office a few weeks back in order to make an agreement for authorisation of some branches of Sindh bank by the SRB.

This agreement would be made very soon and authorised braches of Sindh Bank would likely start their work in this regard from the upcoming Fiscal Year 2012-13, they said.

In this regard, a high level official of the SRB told Business Recorder that things had almost been finalised between representatives of both provincial institutions and an agreement would be signed very soon.

"Initially, very few services which have low tax-income would be assigned to Sindh Bank branches as the staff of the provincial bank branches can learn this new practice of tax-collection through automation system," he added.

He said that some branches of Karachi, Hyderabad, Sukkur and other districts would be authorised for the SRB services tax deposits.

Regarding existing authorised branches of National Bank of Pakistan (NBP), he said that currently, 42 NBP branches are authorised by the SRB where taxpayers use to deposit services tax for the SRB.

He said that in Karachi, NBP's main branch, Airport branch, Defence Housing Society branch,  Denso Hall branch, Aimai House branch, M.A Jinnah Road branch, M.A.H. Society branch, Nazimabad branch, Nicol Road branch, Binori Town branch, P.E.C.H.S branch, P.N.S.C. Building branch, Steel Mills branch, P.I.D.C. House branch, Nadir House branch, Saddar branch, S.I.T.E branch, Malir city branch, Alamgir Road branch, Club Road branch, Gulshan-e-Iqbal branch, Korangi Industrial Area branch, S.M.C.H.S Branch, FTC Building branch, Income Tax Building branch, Shaheed-e-Millat Road branch, Civic Centre Model branch, Kehkashan branch, Awami Markaz branch, Islamic banking branch and others are authorised by the SRB.

Besides, there are only two branches of NBP in Hyderabad including S.I.T.E Area branch and Fatima Jinnah Road branch while, there are also two branches in Sukkur including March Bazaar and Main branch of NBP have been authorised by the SRB, he added.

It may be noted here that Sindh Bank has 53-online branches in Sindh, Punjab and Khyber Pakhtunkhwa.