Banks to collect taxes, duties on 27th, 28th & 30th: SBP

KARACHI: The State Bank of Pakistan (SBP) has issued instructions for collection of taxes and duties on 27th, 28th and 30th June.

According to the SBP, pursuant to the request of the Federal Board of Revenue (FBR), following instructions regarding observance of banking hours and clearing/settlement of tax receipts on 27th, 28th & 30th June 2023 are issued for compliance by all banks in order to facilitate taxpayers:

On Tuesday, June 27, 2023 all banks and SBP BSC field offices will remain open from 9:00 a.m. to 8:00 p.m. for same day clearing whereas on Wednesday, June 28, 2023 all branches of banks will remain open. Again on Saturdays branches will remain open from 9:00 a.m. to 2:00 p.m. for same day clearing.

The NBP Custom House Branch will remain open on Friday, June 30, 2023 from 9:00 a.m. to 5:30 p.m. for special clearing to be held on 3rd July, 2023 at 09:00 AM (value date of 30th June 2023).

For the purpose of closing exercise for FY2022-23, to be held on 3rd July 2023, SBP’s core banking as well as Pakistan Real-time Interbank Settlement Mechanism (PRISM) will be operating in value date of 30th June 2023.

Banks and M/s NIFT shall accordingly define 30th June 2023, as working day in their systems so as to enable settlement of special clearings, to be held on 3rd July 2023, in value date of 30th June 2023.

Copyright Business Recorder, 2023