Banks to open on Sept 30 for tax collection

State Bank of Pakistan (SBP) Thursday directed all banks to keep their authorized branches open on Saturday (September 30) in order to facilitate the taxpayers in payment of government duties and taxes, reported 24NewsHD TV channel.

The decision has been taken on the request of the Federal Board of Revenue (FBR) to facilitate the collection of taxes through ADC’s Over-the-Counter (OTC) facility, according to a statement issued here.

All the branches of all banks- opening on Saturday- shall observe extended working hours till 5:00 p.m. for the purpose, it added. The central bank further advised banks to keep their branches concerned open till such time that is necessary to facilitate the special clearing by NIFT on September 30, 2023.

The SBP instructed NIFT as well to arrange special clearing at 5:00 p.m. on September 30, in order to ensure the same-day clearing and settlement of payment instruments deposited at banks’ authorized branches for tax collection.