Banks to extend working hours on September 30 for tax collection

• Banks with Saturday hours will stay open until 5:00 p.m. on September 30 to aid in tax payments.
• This decision was made in response to a request from the Federal Board of Revenue (FBR).
• Banks should stay open until the special clearing session at 5:00 p.m. on September 30 is finished.

The State Bank of Pakistan (SBP) has stated that banks with Saturday openings will have extended working hours until 5:00 p.m. on September 30, 2023, to assist in tax collection using ADC’s Over-the-Counter (OTC) service.

According to a statement from the central bank, the decision to extend working hours has been made in response to a request from the Federal Board of Revenue (FBR) to assist taxpayers in paying government duties and taxes.

Additionally, to guarantee that payment instruments deposited for tax collection at authorized bank branches are cleared and settled on the same day, NIFT will organize a special clearing session at 5:00 p.m. 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.

The FBR previously stated that the deadline for filing income tax returns would not be extended beyond September 30, 2023.

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