AGL 40.40 Increased By ▲ 0.20 (0.5%)
AIRLINK 129.25 Increased By ▲ 0.14 (0.11%)
BOP 6.81 Increased By ▲ 0.21 (3.18%)
CNERGY 4.13 Increased By ▲ 0.10 (2.48%)
DCL 8.73 Increased By ▲ 0.28 (3.31%)
DFML 41.40 Increased By ▲ 0.15 (0.36%)
DGKC 87.75 Increased By ▲ 0.75 (0.86%)
FCCL 33.85 Increased By ▲ 0.50 (1.5%)
FFBL 66.40 Increased By ▲ 0.50 (0.76%)
FFL 10.69 Increased By ▲ 0.15 (1.42%)
HUBC 113.51 Increased By ▲ 2.81 (2.54%)
HUMNL 15.65 Increased By ▲ 0.42 (2.76%)
KEL 4.87 Increased By ▲ 0.09 (1.88%)
KOSM 7.62 Decreased By ▼ -0.21 (-2.68%)
MLCF 43.10 Increased By ▲ 1.20 (2.86%)
NBP 61.50 Increased By ▲ 1.00 (1.65%)
OGDC 192.20 Increased By ▲ 9.40 (5.14%)
PAEL 27.05 Increased By ▲ 1.69 (6.66%)
PIBTL 7.26 Increased By ▲ 1.00 (15.97%)
PPL 150.50 Increased By ▲ 2.69 (1.82%)
PRL 24.96 Increased By ▲ 0.40 (1.63%)
PTC 16.25 Increased By ▲ 0.01 (0.06%)
SEARL 71.30 Increased By ▲ 0.80 (1.13%)
TELE 7.25 Decreased By ▼ -0.05 (-0.68%)
TOMCL 36.29 Decreased By ▼ -0.01 (-0.03%)
TPLP 8.05 Increased By ▲ 0.20 (2.55%)
TREET 16.30 Increased By ▲ 1.00 (6.54%)
TRG 51.56 Decreased By ▼ -0.14 (-0.27%)
UNITY 27.35 No Change ▼ 0.00 (0%)
WTL 1.27 Increased By ▲ 0.04 (3.25%)
BR100 9,957 Increased By 115.5 (1.17%)
BR30 30,770 Increased By 733.6 (2.44%)
KSE100 93,292 Increased By 771.2 (0.83%)
KSE30 29,017 Increased By 230.5 (0.8%)

The Central Board of Revenue (CBR) has asked the National Bank of Pakistan (NBP) to open maximum number of counters at the designated branches for the taxpayers to deposit income tax challans and train its officials to guide the taxpayers for specifying the Tax Number (NTN) or Computerised Identity Card Numbers (CNIC) on the challans.
CBR official told Business Recorder on Tuesday that CBR has removed certain shortcomings in the existing procedure, which has encouraged the taxpayers to specify National Tax Number (NTN) or Computerized Identity Card Numbers (CNIC) on the challans deposited at the banks.
Recently, income tax officials had visited branches of NBP and State Bank of Pakistan (SBP) to identify taxpayers and banks' problems. They also examined the bank procedure for the implementation of the automated system for daily reporting of revenue receipts by the banks to the CBR.
Tax officials visited certain online branches of NBP and SBP, Karachi and submitted their report to CBR. According to their findings, the most important area is taxpayer education, which would be focused on to encourage voluntary compliance. It was found that some individuals sent their drivers or office boys to deposit tax challans at the banks. When bank officials ask them to specify the NTN/CNIC of the concerned person, the depositor was unable to correctly remember the tax number.
In certain cases, taxpayers deliberately hid their NTN/CNIC and did not mention on the challans. Thirdly, there was need of training of bank officers for proper guidance of the taxpayers. Moreover, there is also problem of infrastructure availability for the taxpayers at the banks.
Officials said that it has been agreed between the CBR and NBP not to accept unidentified tax challans where NTN or CNIC are not mentioned after September 30, 2005. A number of people have started mentioning their NTNs/CNIC on the challans. More people would mention their NTNs once they would know about the benefits of operating under the documented economy.
Practically, banks are still accepting challans without NTN/CNIC, but the CBR has yet not issued fresh instructions to the banks for continuation of the temporary arrangement of accepting challans not carrying NTN/CNIC.
The Bank will report to the CBR the amount of collections made on account of income tax, sales tax and Federal Excise Duty (FED) on daily basis, CBR officials added.

Copyright Business Recorder, 2005

Comments

Comments are closed.