In a significant leap towards modernization and efficiency, the Federal Board of Revenue (FBR) has initiated a pilot run for the collection of duties and taxes through an online payment system in collaboration with 18 prominent banks.
The trial, which involves utilizing alternate delivery channels such as ATMs and internet banking, is part of the FBR’s ongoing efforts to streamline tax collection processes and embrace digital innovations.
The FBR has officially launched the trial run of the e-payment module, allowing taxpayers to make their payments conveniently through ATMs and online banking platforms. This move aims to facilitate a more accessible and efficient means of meeting tax obligations, aligning with global trends in digital financial services.
List of Banks Offering Online Payment Facility:
The FBR has partnered with a diverse array of banks to provide taxpayers with multiple options for online payments. The list of banks participating in this initiative includes:
1. Askari Bank
2. Bank Alfalah
3. Meezan Bank
4. National Bank of Pakistan (NBP)
5. Habib Metro
6. Industrial and Commercial Bank of China (ICBC)
7. Soneri Bank
8. JS Bank
9. Muslim Commercial Bank (MCB)
10. United Bank Limited (UBL)
11. Habib Bank Limited (HBL)
12. Allied Bank Limited (ABL)
13. Summit Bank
14. Bank of Punjab
15. Bank Al Habib
16. Faysal Bank
17. Silk Bank
18. Bank Islami
The inclusion of a diverse range of banks in this initiative demonstrates a concerted effort to cater to the varied preferences and accessibility of taxpayers across Pakistan.
FBR’s Statement on the Online Collection System:
The FBR, in an official statement, confirmed the live trial of the online collection system’s e-payment module through ATMs and internet banking. The trial period will allow taxpayers to familiarize themselves with the new system while providing the FBR with valuable feedback to further enhance and optimize the online payment process.
Potential Benefits and Implications:
The adoption of online payment channels for tax collection holds several potential benefits for both taxpayers and the FBR. The convenience offered by ATMs and internet banking can lead to increased compliance, as taxpayers find it easier to fulfill their obligations in a timely manner. Additionally, the digitalization of tax payments can contribute to a more transparent and traceable system, reducing the likelihood of errors and discrepancies.
Moreover, this move aligns with the broader global trend of embracing digital financial services, marking a shift towards a more technology-driven and efficient tax collection infrastructure.
Conclusion:
As the FBR enters this trial phase, it reflects a commitment to embracing technological advancements and creating a more taxpayer-friendly environment. The collaboration with 18 major banks demonstrates a concerted effort to provide multiple avenues for taxpayers to make their payments conveniently. The success of this pilot run may pave the way for a comprehensive and nationwide implementation, heralding a new era of digitalization in tax collection for Pakistan. Taxpayers and stakeholders are encouraged to participate actively in the trial and provide feedback to contribute to the refinement and success of this transformative initiative.
