The Federal Board of Revenue (FBR) announced on Thursday that the offices of Inland Revenue will extend their working hours on December 31, 2020, until midnight.
This decision aims to provide taxpayers with an opportunity to fulfill their obligations by making payments for duty and taxes before the close of the fiscal year.
The FBR, cognizant of the significance of this year-end period for both taxpayers and the revenue collection process, has taken steps to streamline the payment process and ensure accessibility for those seeking to clear their dues. The extension of working hours until midnight on the last day of the year is expected to accommodate individuals and businesses looking to meet their tax obligations before the commencement of the new fiscal year.
To further enhance the convenience for taxpayers, the FBR has directed chief commissioners to coordinate with the State Bank of Pakistan (SBP) and the National Bank of Pakistan (NBP) to facilitate the opening of bank branches on December 31, 2020. This collaboration between the FBR and financial institutions is aimed at ensuring that individuals and businesses have access to the necessary banking services to complete their transactions seamlessly.
Simultaneously, the SBP has issued instructions in alignment with the FBR’s directive, emphasizing the importance of accommodating extended working hours at bank branches to support the year-end tax payment activities. This synchronized effort between the FBR and the SBP underscores the commitment to providing a conducive environment for taxpayers and promoting financial compliance.
The decision to extend working hours and coordinate with banks reflects a proactive approach by the FBR to alleviate any last-minute challenges faced by taxpayers. By creating an environment conducive to efficient tax payments, the authorities hope to encourage timely compliance and contribute to the overall success of the revenue collection process.
Taxpayers are encouraged to utilize the extended hours and the collaboration between the FBR and banks to fulfill their tax obligations promptly. This initiative not only underscores the government’s commitment to supporting businesses and individuals in meeting their financial responsibilities but also emphasizes the significance of timely tax compliance in sustaining the economic well-being of the country.
As the clock ticks down to the year-end deadline, the extended working hours for Inland Revenue offices and the collaborative efforts with banks are poised to make the tax payment process more accessible and efficient for all concerned parties. The FBR’s proactive measures exemplify a commitment to responsive governance and facilitating a smooth transition into the new fiscal year.
