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Excise & Taxation Dept to use banking channels for collection

Excise & Taxation Dept to use banking channels for collection

LAHORE: A proposal to collect token tax through banks is being considered by the Punjab government.

Official of the Punjab Excise and Taxation Department has said that the government is mulling to collect tax through banking channels. The step will ensure transparency in collection and redressing public complaints of overcharging.

He said the proposal was part of policy of the government to modernise and computerise tax collection system and its pros and cons were being discussed. “If the government decides to implement it, tax payers would be able to deposit their taxes in any online branch of banks throughout the province,” he added.

The official sources said that efforts of the government to increase revenue collection were yielding results and the Excise & Taxation Department had collected Rs16.53 million and Rs36.11million in July and August 2013 respectively under the head of excise revenue. The amount is Rs9.75 million more than the total collection of the corresponding period last year.