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SBP extends coverage of online tax collection

SBP extends coverage of online tax collection

KARACHI: The State Bank of Pakistan has extended the coverage of online tax collection system to provincial taxes, starting from the Punjab government.

In a circular the central bank said: “The banks and microfinance banks (MFBs) shall; therefore, been decided to add government of Punjab as biller, enabling its tax payments to pay taxes and levies though Alternate Delivery Channels (ADCs), ie, internet banking, ATMs and Over the Counter (OTC).”

The central bank said all banks would add the Punjab government as biller in the bill payment facility of 1Link at the earliest, but not later than January 31, 2019. OTC facility will; however, preferably be activated by December 31, 2018. The banks may charge up to Rs50 for all OTC transactions irrespective of the tax amount.