KARACHI: The State Bank of Pakistan (SBP) has decided to introduce electronic payment facility for consignment clearance of more than Rs 1 million for duty and tax from January 20, 2021.
The Karachi Customs Agents Association (KCAA) said in a statement that the matter was decided at a meeting between the association’s officials and senior central bank officials to facilitate trade. This issue can be discussed.
KCAA said that at the request of the association, a comprehensive joint meeting was held on January 7, 2021, in which issues related to the banking sector were discussed.
In order to facilitate trade and taxpayers, various decisions were taken by the competent authorities of SBP in the said meeting.
He said that it has been decided that for payment of customs duty and tax, payment of any amount by check at any branch of the same bank with PSID instead of following the process of issuing order. Can be paid
However, if there is any change, the additional tax / additional amount will be credited by cash or if the tax amount is less than the check amount, the additional amount will be credited to the taxpayer’s account like PD account. Will be done The meeting decided.
KCAA informed the Central Bank that some banks have different limits for account holders and they do not allow payment of duties and taxes in excess of their assigned / authorized limits through e-payment module.
It was agreed by the State Bank of Pakistan that no capping / limit will be fixed in future, taxpayers and stakeholders can pay their customs duties and taxes without any limit.
KCAA also pointed out that corporate customers do not have ATM cards, mobile apps and internet banking. Therefore, they were unable to pay their duties and taxes online.
“The corporate sector does not have access to online banking and will have to pay through traditional pay orders or check deposit methods.”
The KCCA statement further said that corporate sector entities wishing to make e-payments for duties and taxes should have a 24/7 module to facilitate payments.
In this regard, the SBP has decided to provide all such facilities to the corporate sector in the near future. “Some banks, such as Standard Chartered, Simba Bank, etc., already provide net banking to the corporate sector,” the statement quoted SBP officials as saying.