Tax collecting banks asked to stay open on 31st

RECORDER REPORT

KARACHI: To facilitate taxpayers, the State Bank of Pakistan has directed such banks, which collect tax, to open their branches and other offices on Saturday, March 31, 2012.

“SBP-BSC and all its field offices will remain open on March 31, 2012 (Saturday) till 10pm to facilitate the trade and industry in getting their cargo cleared for import and export and for receiving returns and payments of duty and taxes,” according to a circular issued by the central bank on Wednesday.

NIFT will also remain open on the same date for both first and second clearing to facilitate Federal Board of Revenue (FBR) in tax collection, it added.

SBP bank has also advised all banks to open branches and other offices on March 31, 2012 (Saturday) till 5pm that are necessary to facilitate aforesaid NIFT clearing on the same date, it concluded.