Monday, April 15, 2024

Customs duties, taxes in excess of Rs. 1 million, payable online as of 15 January 2021

Pakistan Customs has reported that the payment of customs duties and taxes amounting to Rs. 1 million or more would have to be done online from 15 January 2021. On e-payment of duty and taxes above Rs. 1 million, the consignments via the WeBOC system will be cleared.

The customs department stated that the web method of payment is that the modern way of collecting taxes because it is fast and reliable. It also benefits banks, taxpayers, withholding agents, and e-intermediaries. Moreover, the payments are often made up of anywhere within the world providing the users with much-needed ease. it’ll also enable taxpayers to schedule their payments.

The shift to a web method of payment will leave instant communication between FBR and therefore the banks decreasing the workload of the bank staff. The payment system also will provide the user with electronic payment documents in text also as an electronic copy in PDF format for subsequent utilization.

As they can be tracked to their origin and their records are stored electronically, payment by online methods is often more transparent, which can contribute to a lower level of corruption that normally happens when such large sums are in doubt.

Related Articles

Latest Articles