The State Bank of Pakistan (SBP) Wednesday asked banks to ensure activation of Over the Counter (OTC) and online tax payment facilities by 31st October 2018. The project of 'Online Collection of Government Taxes & Duties' was officially launched on March 20, 2018, enabling the taxpayers to pay the Federal Board of Revenue (FBR) taxes and duties using their internet banking accounts and ATMs.
Subsequently, SBP, in July 2018, advised banks to activate their Over The Counter (OTC) facility to enable their clients particularly the corporate and SME clients in payment of their taxes. While a number of banks have activated the OTC and Alternate Delivery Channel (ADC) facilities for collection of FBR taxes, some banks/MFBs are still in the process of activating these facilities.
Most of the banks customers are still unaware about these facilities and are still paying their taxes under the traditional system at NBP and SBP-BSC branches. Therefore banks, that have not yet activated the OTC and online tax payment facilities, have been directed to ensure the activation of the same by 31st October 2018.
According to SBP, the banks will also create awareness among their account holders/customers about the payment facility by sending SMS to all their customers on monthly basis till 30th June 2019 and displaying awareness messages on their websites and ATM screen. Further, as per fresh directives, banks' Compliance Department will submit monthly status, about the availability of ADC and OTC facility in their respective bank, the SMS sent to their clients and display of awareness messages on the website and ATMs screen till 30th June 2019.
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