Daily Times

The Federal Board of Revenue (FBR) on Friday said that the offices of Inland Revenue (IR) will observe extended working hours and remain open till midnight on June 30, 2021 for collection of duties and taxes. In an official notification, the FBR directed all tax offices to observe extended working hours till 12:00 midnight on Wednesday June 30, 2021 to facilitate the taxpayers in payment of duty and taxes. The FBR directed the chief commissioners of Inland Revenue to establish liaison with the State Bank of Pakistan (SBP) and authorized branches of the National Bank of Pakistan (NBP) to ensure transfer of tax collection by these branches on June 30, 2021 to the respective branches of the SBP on the same date so as to account for the same towards the collection for the month of June 2021. In another notification, the SBP asked banks to observe extended hours for collection of duty and taxes. The SBP said that SBP-BSC offices and NBP branches would observe extended banking hours till 8:00 PM on June 30, 2021 for collection of government duties and taxes.

The clearing instruments, collected by SBP-BSC offices and NBP branches till 8:00 PM for payment of government taxes shall be lodged in special clearing to be arranged through NIFT at 8:00PM on June 30, 2021. The SBP said that the NIFT shall arrange special clearing for same day clearing of payment instruments collected till 8:00PM on June 30, 2021. NIFT shall submit final returns to SBP-BSC offices for settlement by 10:00PM, same day. M/s 1 Link shall arrange to provide the batches of Alternate Deliver Channels (ADCs) transactions executed till 12:00 AM on June 30, 2021 by 9:00 AM on July 01, 2021 to SBP for settlement. In order to eliminate the issue of spillover receipts, the NBP shall ensure that no instrument concerning government receipts, lodged in aforesaid office hours, shall remain unattended at any NBP branch and shall be settled on the value date of June 30, 2021 through special clearing.