FBR seeks banks' support for income tax return filing

ISLAMABAD: As part of an outreach programme to boost the filing of Income Tax returns, Federal Board of Revenue (FBR) has started contacting the country’s banks and financial institutions.

“FBR has decided to work closely with the large multinationals and corporations of the country to build a friendly interface with them and provide them with all assistance and facilitation in all areas of taxation,” an FBR official stated during a meeting with Bank of Punjab (BoP) President Naeemuddin.

A team of FBR’s facilitation and Taxpayers Education (FATE) wing, led by Nausheed Javaid Amjad, held an extensive meeting with the BoP president in a bid to seek his assistance in sensitizing the BoP officers and staff with taxable income on filing of Income Tax returns.

Briefing the range of benefits and advantages, Nausheen Amjad said that the bank employees could reap these rewards after becoming tax filers, by paying significantly lower rate of taxes on multiple business and bank transactions.

She said the large organisations had done exceedingly well in reporting the salaries paid and the taxes deducted at source from their employees, and an equal degree of attention was required from them to motivate their employees with taxable income to file their tax returns and fulfill an important national obligation.

Moreover, she offered FBR’s assistance and resources for conducting in-house facilitative training sessions and workshops in e-filing for the officers and staff of Bank of Punjab.