Importers bound to e-pay over Rs1m duty, taxes

Dawn | Jan 20, 2021 at 9:13 AM
  • In compliance with FATF requirements and as a measure towards digitsation and automation of economy, the federal government has made it mandatory on all importers to make payment of duties and taxes exceeding Rs1 million through the e-payment system.
  • The taxpayers’ confidence and interest in e-payment continue growing fast and it can be gauged from the fact that the proportion of e-payments of income tax, sales tax and Federal Excise Duty increased from 6.26pc of total payments during July-December FY20 to over 40pc during the same period of FY21.
  • E-payment system provides a round-the-clock facility to taxpayers and traders to make online payment of customs duties and other FBR taxes as well as provincial cess and stamp duty.