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ISLAMABAD: In continuation of the FBR reforms and modernisation drive, e-payment facility for payment of all FBR taxes as well as some provincial taxes has been introduced for convenient and hassle-free payment, said a press release.

On the one hand, traders can electronically pay all import duties and taxes through Customs computerized system WeBOC at ports and border stations across Pakistan. While on the other hand, taxpayers can also electronically pay income tax, sales tax and federal excise duty sitting in their homes.

E-payment system provides round the clock facility to taxpayers and traders to make online payment of customs duties and other FBR taxes as well as provincial cess and stamp duty.

The facility is available through internet and mobile banking by using more than 15,000 ATMs of 16,000 Over the Counters (OTC) bank branches of commercial banks spreading across the country.

The taxpayers’ confidence and interest in e-payment is growing fast and it can be gauged from the fact that the proportion of number of e-payments of income tax, sales tax and federal excise duty has increased from 6.26 percent of total payments during July to December 2019 to 40.5 percent during same period of 2020.

Similarly the proportion of amount deposited in these e-payments has increased from 13.55 percent of total payments to 76.5 percent during the comparative periods.

E-payment facility has greatly helped the traders and other taxpayers during the Covid pandemic since all transactions can be completed without physical interaction. Currently 18.6 percent of import duties and taxes are being collected by Pakistan Customs through e-payment system.—PR

Copyright Business Recorder, 2021