ISLAMABAD: Most of the banks having accounts of various governmental departments and institutions related to revenue including Federal Board of Revenue, have not yet deposited billions of rupees to the national exchequer however having received the amount themselves.
As the current fiscal year draws to an end today, Federal Board of Revenue has stressed the banks to immediately deposit the amounts to the national exchequer which have been received by them in share of duties and taxes in advance.
According to sources, not only the banks have been delaying the transactions of money in government accounts into national exchequer but also they are yet to deposit to FBR’s accounts the amounts that are received by them on various services in share of duties/taxes.
Sources in FBR further told Customs Today that FBR authorities are in contact with banks’ administrative authorities and it is high on agenda that the transactions should be made within the last day of the fiscal year 2013-14.
FBR senior officials have said that it is a matter of routine for the banks each year. However, it is currently under consideration how to improve the usual routine.
