IR offices to observe extended working hours on Feb 28 for revenue collection

IR offices to observe extended working hours on Feb 28 for revenue collection

KARACHI: The offices of Inland Revenue will observe extended working hours on Friday, February 28, 2020 to facilitate taxpayers in payment of due taxes and filing of tax returns.

The Federal Board of Revenue (FBR) in an office orders issued to Large Taxpayers Units (LTUs) Corporate Regional Tax Offices (CRTOs) and RTOs, directed to observe extended working hours till 10:00PM on Friday February 28, 2020 to facilitate the taxpayers in payment of duties and taxes and filing of Income Tax Returns / Statements.

The chief commissioners have been directed to establish liaison with State Bank of Pakistan (SBP) and authorized branches of National Bank of Pakistan (NBP) to ensure transfer of tax collection by these branches on February 28, 2020 to the respective branches of SBP on the same date so as to account for the same towards the collection for the month of February 2020.

The SBP also issued instructions that NBP branches as well as field offices of the SBP Banking Services Corporation, shall observe extended banking hours up to 8:00PM on February 28, 2020.

The NBP branches will settle their transactions on same day i.e. February 28, 2020 with respective SBP BSC offices for which purpose a special clearing will be arranged at 5:00PM by the NIFT on February 28, 2020.

The NBP shall settle their transactions with SBP BSC field offices/head office latest by 10:00PM on February 28, 2020.

The SBP further said that in order to eliminate the issue of spillover receipts, NBP shall ensure that no instrument containing receipts of the government, shall unattended at any NBP branch and shall be settled in the value date of February 28, 2020 through special clearing.

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