LAHORE: In compliance with FATF requirements and as a measure towards digitsation and automation of economy, the federal government has made it mandatory on all importers to make payment of duties and taxes exceeding Rs1 million through the e-payment system.

From Wednesday (Jan 20), all duties and taxes over Rs1m will be paid only through the system of e-payment — internet/mobile banking, ATMs, over-the-counter (OTC) or any other electronic method approved by the State Bank of Pakistan.

It has been done since it was one of the requirements of the Financial Action Task Force, revealed Lahore Customs (Appraisals) Collector Mohsin Rafique while speaking at a seminar organised by the All Pakistan Textile Mills Association (Aptma) on Tuesday.

The taxpayers’ confidence and interest in e-payment continue growing fast and it can be gauged from the fact that the proportion of e-payments of income tax, sales tax and Federal Excise Duty increased from 6.26pc of total payments during July-December FY20 to over 40pc during the same period of FY21.

Similarly, the proportion of amount deposited in these e-payments has jumped from 13.55pc of total payments to 76.5pc during the comparative period of the current year, he added.

The facility for payment of all FBR taxes as well as some provincial taxes has been introduced for convenient and hassle-free payment. The traders can electronically pay all import duties and taxes through Customs computerised system WeBOC at ports and border stations across the country.

Moreover, the taxpayers can also electronically pay income tax, sales tax and Federal Excise Duty from their homes. E-payment system provides a round-the-clock facility to taxpayers and traders to make online payment of customs duties and other FBR taxes as well as provincial cess and stamp duty.

The facility is available through internet and mobile banking by using more than 15,000 ATMs of bank branches across the country.

The facility greatly helped the traders and other taxpayers during the Covid-19 pandemic since all transactions can be completed without physical interaction. Currently 18.6pc of import duties and taxes are being collected by Pakistan Customs through the e-payment system, said Mr Rafique.

Published in Dawn, January 20th, 2021