Importers bound to e-pay over Rs1m duty, taxes

Published January 20, 2021
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.— AFP/File
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.— AFP/File

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

Opinion

Vaccine uptake
26 Feb 2021

Vaccine uptake

The reasons for refusal need to be carefully recorded.

Editorial

Terrorist’s escape
Updated 26 Feb 2021

Terrorist’s escape

It is not clear how many military personnel were involved in this incident and what the investigation into their actions revealed.
26 Feb 2021

Penalising filers

THE FBR has decided to penalise taxpayers filing their returns late. Apparently, these filers will be required to ...
26 Feb 2021

Corporal punishment

FOR a child born in our society, the cycle of violence begins early. The first taste of violence often comes at the...
IHK & human rights
Updated 25 Feb 2021

IHK & human rights

If India continues to be pampered and the Kashmiris’ plight ignored, peace in South Asia will remain a distant dream.
25 Feb 2021

A better law

THAT the Sindh Police has taken an initiative to bring improvements to the criminal justice system is a positive...
25 Feb 2021

Power breakdown report

A NEPRA inquiry into last month’s power breakdown that left almost the entire country without electricity for up ...