ISLAMABAD: The government has stepped up efforts for increasing revenue collection to achieve the downward revised target of Rs2.605 trillion for the outgoing fiscal year.

To facilitate taxpayers to deposit their duty and taxes in the last three days of the fiscal year 2014-15, the State Bank of Pakistan (SBP), on a request from the Federal Board of revenue (FBR), has decided to keep its designated branches and those of the National Bank of Pakistan (NBP) open for extended hours.

The authorised branches of SBP and NBP will remain open on June 27 from 8am to 1.45pm for collection of duties and taxes. Similarly, authorised branches of NBP will remain open till 8pm on June 29 for collection of FBR taxes/duties and cheque collection, and till 10pm on June 30 for government receipts and payments.

Furthermore, the NBP branches will accept cash transactions at their counters till 10pm on June 30.

According to an official statement, the NBP branches will settle their transactions on June 30 with respective SBP offices for which two special clearings will be arranged by NIFT immediately after 3pm and 10pm.

Banks have been further advised to open their related clearing branches on June 30, till such time that is necessary to facilitate special clearing by NIFT only for FBR collections.

Meanwhile, all field offices of the FBR will remain open and observe extended working hours till 10pm on June 29 and till 12 midnight on June 30 for collection of duties and taxes.

The Chief Commissioners (Inland Revenue) of Large Taxpayers Units (LTUs) and Regional Tax Offices (RTOs) have also been directed to establish liaison with SBP, NBP and scheduled commercial banks in their jurisdiction to ensure transfer of tax collection by these branches by June 30 to respective offices of SBP.

Published in Dawn, June 27th, 2015

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