Duties, Taxes Above Rs.1 million to be Paid Online from the 20th Jan

duties taxes

Duties and taxes above Rs.1 million would be paid online from the 20th of this month, as informed by the Director-General of the Federal Board of Revenues Reforms and Automation-Wajid Ali.

As per the shared details, while talking with members of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Wajid Ali said that the online system was introduced through a procedure in 2017 in collaboration with the State Bank of Pakistan (SBP).

“This system is connected with FBR’s WeBOC, and offers a modern way of collecting taxes that is fast and reliable,” he stated. “Such procedures are already adopted by a number of countries worldwide.”

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He informed that the system is operated by a unique ID, called a PSID number, which is issued to the relevant users who are connected to approximately 16,000 various branches of the relevant bank across Pakistan.

“In order to further ease the payment of taxes, the system is supported by easy paisa/OTC on a mobile phone to the users. The facility through this system is available to the taxpayers on a 24/7 basis.”

He said that no big adoption of the system was observed last year by the users and in order to enforce the online payment by the system, it is now automated in such a way that the payment of taxes beyond Rs1 million cannot be made through the old system.

“It is, therefore, a must to the taxpayers that they are bound to get PSID numbers if the amount of taxes to be paid exceeds Rs1 million or above,” he added.

FPCCI President Mian Nasser Hyatt Maggo appreciated Pakistan Revenue Automation Private Limited (PRAL) for improving ease of doing business and facilitating the business industry.

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