Banks to Observe Extended Working Hours on Sep 30 for Tax Collection

The State Bank of Pakistan (SBP) on Thursday announced that the Saturday opening branches of all banks will observe extended working hours till 5:00 p.m. on September 30, 2023, to facilitate the collection of taxes through ADC’s Over-the-Counter (OTC) facility.

In a statement, the central bank said that a decision has been taken to facilitate the taxpayers in payment of government duties and taxes, at the request of the Federal Board of Revenue (FBR).

Further, in order to ensure the same-day clearing and settlement of payment instruments deposited at banks’ authorized branches for tax collection, NIFT will arrange special clearing at 5:00 pm on September 30.

“Accordingly, all banks are advised to keep their concerned branches open till such time that is necessary to facilitate the special clearing by NIFT on September 30, 2023,” the statement added.

Earlier, FBR announced that there would be no extension in the last date for filing income tax returns beyond September 30, 2023.

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