Pakistan(National Times)- The Federal Board of Revenue (FBR) on Wednesday introduced a new payment creation system which would enable\u00a0secure, efficient, and user-friendly online payments for taxpayers, eliminating the need to visit bank physically.\u00a0 The tax-collecting authority, in a statement, said that the system was guided by the government’s vision to modernise Pakistan’s\u00a0tax infrastructure. “FBR\u00a0is reinforcing its commitment to advancing tax administration and enhancing revenue collection through advanced digital solutions,” it said, adding that the system, named ePayment 2.0, is available within the IRIS 2.0 portal.\u00a0 The system would be accessible directly from taxpayers’ bank accounts via internet banking, ATMs, and mobile banking, eliminating the need for physical bank visits.\u00a0 ePayment 2.0 marks a significant advancement in revenue management, covering a wide range of taxes, including income tax, sales tax, federal excise duty, and withholding taxes, said the FBR.\u00a0 The authority highlighted that the taxpayers used a\u00a0separate ePayment system outside IRIS 2.0 previously,\u00a0requiring them to switch between portals. However, the FBR has now provided a\u00a0unified and improved user interface accessible directly within IRIS 2.0. “By generating a unique Payment Slip ID (PSID), it enables quick and convenient payments for both registered and unregistered taxpayers. Upon payment completion, a computerised payment receipt (CPR) is issued via email and SMS, providing official confirmation and easy access for future use within the IRIS 2.0 system,” said the statement.\u00a0 The statement also said that through a\u00a0secure, precise multi-step workflow, the system allows taxpayers to generate a PSID, complete payment through ADC channels and receive a CPR in real-time, accessible for future compliance needs within IRIS.\u00a0 “To enhance transparency and accountability, it includes comprehensive PSID search feature, allowing taxpayers to easily retrieve and confirm payment records. This level of automation and integration minimises errors and delays, significantly improving the tax payment experience and supporting FBR\u2019s vision for a business-friendly compliant tax environment,” it highlighted.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"
Pakistan(National Times)- The Federal Board of Revenue (FBR) on Wednesday introduced a new payment creation system which would enable\u00a0secure, efficient, and user-friendly online payments for taxpayers, eliminating the need to visit bank physically.\u00a0 The tax-collecting authority, in a statement, said that the system was guided by the government’s vision to modernise Pakistan’s\u00a0tax infrastructure. “FBR\u00a0is reinforcing […]<\/p>\n","protected":false},"author":2,"featured_media":92667,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-92666","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","entry"],"yoast_head":"\n