FBR Announces Extended Tax Collection Hours to Meet FY24 Deadline

Federal Board of Revenue (FBR) is implementing special measures to maximize tax collection before the fiscal year ends on June 30th, 2024.

Extended Working Hours:

  • Large Tax Offices (LTOs), Medium Tax Offices (MTOs), Corporate Tax Offices (CTOs), and Regional Taxpayers Offices (RTOs) will have extended working hours:
    • Friday, June 28th: Open until 8:00 PM.
    • Saturday, June 29th: Open until 6:00 PM.
    • Sunday, June 30th: Open until 12 midnight.

Collaboration for Timely Transfers:

The FBR is working closely with the State Bank of Pakistan (SBP) and designated National Bank of Pakistan (NBP) branches. This collaboration ensures that tax collections are transferred from NBP branches to the SBP on the same day, reflecting in June 2024’s records.

Emphasis on Accurate Recording:

The FBR stresses meticulous monitoring of tax collections. All Payment Slip IDs (PSIDs) must be properly recorded to avoid any discrepancies that could delay reflecting payments in the current fiscal year.

Importance of Meeting Targets:

These measures highlight the urgency of achieving fiscal targets and maintaining financial discipline. Extended hours and weekend operations aim to streamline tax collection and boost efficiency.

Alignment with Fiscal Policies:

The FBR’s proactive approach aligns with broader efforts to strengthen revenue generation and economic stability, especially during challenging times.

Call to Action for Stakeholders:

Taxpayers and stakeholders are urged to cooperate with the FBR’s directives for smooth and efficient tax collection. Adherence to these guidelines will contribute to achieving fiscal goals and supporting Pakistan’s economic resilience in the coming year.

Following Developments:

For updates on the FBR’s efforts and Pakistan’s overall economic performance, it’s recommended to follow official FBR channels or credible news sources.

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