FBR defers digital payment policy

KARACHI: In order to facilitate the business community, the Federal Board of Revenue (FBR) has deferred its policy of switching to the digital mode of payment by November 30, ARY News reported.

A notification was also issued in this connection.

According to a notification, the tax collection body has allowed an extension in the deadline for implementation of digital mode of payment up to November 30, 2021.

“FBR has extended the deadline for digital payments by corporate sector stipulated in Section 21(la) of Income Tax Ordinance-2001 up to 30th Nov, 2021.FBR has exercised this power conferred under Section 214A of ITO-2001, after receipt of various representations filed by taxpayers,” the notification read.

FBR has extended the deadline for digital payments by corporate sector stipulated in Section 21(la) of Income Tax Ordinance-2001 up to 30th Nov, 2021.FBR has exercised this power conferred under Section 214A of ITO-2001,after receipt of various representations filed by taxpayers. pic.twitter.com/jubEW32ArC

— FBR (@FBRSpokesperson) November 1, 2021

The digital mode of payment had been made mandatory for the corporate sector, which was to be implemented from November 01, 2021.

Under the new procedure, the business community can repay expenses by check, pay order, bank draft or banking method