ANL 28.06 Decreased By ▼ -0.11 (-0.39%)
ASC 16.62 Decreased By ▼ -0.14 (-0.84%)
ASL 23.94 Decreased By ▼ -0.01 (-0.04%)
AVN 91.13 Decreased By ▼ -0.53 (-0.58%)
BOP 9.68 Decreased By ▼ -0.03 (-0.31%)
BYCO 9.90 Decreased By ▼ -0.03 (-0.3%)
DGKC 113.68 Increased By ▲ 0.18 (0.16%)
EPCL 48.84 Decreased By ▼ -0.77 (-1.55%)
FCCL 21.81 Increased By ▲ 0.15 (0.69%)
FFBL 27.53 Decreased By ▼ -0.17 (-0.61%)
FFL 18.13 Increased By ▲ 0.14 (0.78%)
HASCOL 14.82 No Change ▼ 0.00 (0%)
HUBC 86.28 Decreased By ▼ -0.18 (-0.21%)
HUMNL 7.40 Increased By ▲ 0.05 (0.68%)
JSCL 29.41 Decreased By ▼ -0.19 (-0.64%)
KAPCO 38.39 Increased By ▲ 0.08 (0.21%)
KEL 4.21 Decreased By ▼ -0.03 (-0.71%)
LOTCHEM 16.00 Increased By ▲ 0.04 (0.25%)
MLCF 43.44 Decreased By ▼ -0.11 (-0.25%)
PAEL 40.49 Decreased By ▼ -0.11 (-0.27%)
PIBTL 13.04 Increased By ▲ 0.04 (0.31%)
POWER 11.74 Decreased By ▼ -0.04 (-0.34%)
PPL 97.93 Increased By ▲ 0.48 (0.49%)
PRL 25.43 Decreased By ▼ -0.05 (-0.2%)
PTC 9.78 No Change ▼ 0.00 (0%)
SILK 1.21 No Change ▼ 0.00 (0%)
SNGP 46.50 Increased By ▲ 0.01 (0.02%)
TRG 97.18 Decreased By ▼ -0.20 (-0.21%)
UNITY 31.70 Increased By ▲ 0.12 (0.38%)
WTL 1.15 Decreased By ▼ -0.03 (-2.54%)
BR100 4,856 Decreased By ▼ -11.74 (-0.24%)
BR30 24,507 Decreased By ▼ -1.43 (-0.01%)
KSE100 45,931 Decreased By ▼ -58.35 (-0.13%)
KSE30 19,110 Decreased By ▼ -68.04 (-0.35%)

KARACHI: The payment of custom duties and taxes of over Rs 1 million will also be accepted now through e-payment by January 20. For the purpose, a joint meeting has been conducted by the central bank through video link on the request of Karachi Customs Agents Association (KCAA), which was attended by over 60 regional heads of all designated banks and the representatives of the association on the other day, said KCAA president Wasiq Hussain Khan.

During the meeting, it was decided that for the payment of duties and taxes, any amount could be paid through cheque in any branch of the same bank along with PSID for issuance of pay order. However in case of any discrepancy, the additional taxes will be charged through cash or if the tax is less than the cheque amount, the excess amount will be deposited in the account of taxpayers just like a PD account.

"No limit will be fixed and the taxpayers are allowed to pay any amount as customs duties and taxes, he said and added that corporate customers are also allowed to make payments through conventional banking i.e. pay orders or cheques due to their inability to pay duty and taxes online but if the corporate sector could manage to make e-payment, this facility would be available for them.

“In this regard, State Bank of Pakistan encouraged the banking industry to provide the internet banking facility to their Corporate clients enabling them to pay their taxes through internet banking. It was also explained by SBP to the trade bodies that in case of Corporate Clients, if their banker is not providing the internet banking, they can also pay their custom duty through Over the Counter Facility (OTC) at any branch of their bank.”

Furthermore, he said the taxpayers were earlier facing 2 to 3 days delays in getting acknowledgement slip of tax payments, if the legal obligations were fulfilled through e-payment and now issue had been addressed during meeting that led the directions to the competent authority to ensure the generation of the acknowledgment payment voucher on real time basis.

Copyright Business Recorder, 2021