In response to the Federal Board of Revenue’s (FBR) request, the State Bank of Pakistan (SBP) has announced that all Saturday-opening branches of banks will extend their working hours until 5:00 p.m. on September 30, 2023, to facilitate tax collection through ADC’s Over-the-Counter (OTC) facility.
The SBP made this decision to ensure a seamless process for taxpayers in paying government duties and taxes. This extended working hours initiative aims to assist individuals in meeting the September 30, 2023, deadline for filing income tax returns.
To further streamline the tax collection process, the National Institutional Facilitation Technologies (NIFT) will conduct a special clearing at 5:00 p.m. on September 30, enabling same-day clearing and settlement of payment instruments deposited at banks’ authorized branches for tax purposes.
The statement released by SBP also urged all banks to keep their respective branches open for as long as necessary to facilitate the special clearing process on September 30, 2023.
It is worth noting that the FBR has confirmed that there will be no extension in the deadline for filing income tax returns beyond September 30, 2023. Therefore, taxpayers are encouraged to take advantage of the extended banking hours to meet their tax obligations conveniently.
 request, the State Bank of Pakistan (SBP) has announced that all Saturday-opening branches of banks will extend their working hours until 5:00 p.m. on September 30, 2023, to facilitate tax collection through ADC’s Over-the-Counter (OTC) facility.){kind=link}