Tag: token tax

  • Punjab’s ePay system collects over Rs90 billion tax revenue through 17 million transactions

    Punjab’s ePay system collects over Rs90 billion tax revenue through 17 million transactions

    Since its launch in October 2019, e-Pay Punjab, an online payment solution developed by the Punjab Information Technology Board (PITB) and the Punjab Finance Department, has collected over Rs90 billion in tax revenue through 17 million transactions.

    As per details released by the PITB on Friday, e-Pay Punjab has collected a total of Rs57 billion in sales tax, Rs11.5 billion in token tax, Rs9 billion in property tax, Rs4 billion in traffic challans, and Rs440 million in vehicle transfers.

    It’s worth noting that e-Pay Punjab now accepts online payments for 23 taxes and levies from ten different departments. Its 1-Link network integration with the State Bank of Pakistan (SBP) and all scheduled banks makes it a secure and dependable payment channel.

    The e-Pay Punjab application, which has over 1 million downloads, generates a unique PSID number that is accepted by banks across Pakistan through their various channels, including Internet and Mobile Banking, ATMs, and physical branch visits.

    It is also a secure, smart, and fast online payment option for the annual Token Tax. Vehicle owners can use e-Pay Punjab to pay their Token Tax from the comfort of their own homes.

    The app’s primary objective is to make it convenient for the government to gather revenue in the form of taxes through a simple solution. With Pakistan’s first digital tax aggregator, the app demonstrates how Pakistan and its government are rapidly integrating financial technology (fintech) into their processes.

  • Excise, Taxation Department intensifies action against tax defaulting vehicle owners

    Excise, Taxation Department intensifies action against tax defaulting vehicle owners

    The Sindh government has issued a warning to car owners who have not paid their taxes. The Excise, Taxation, and Narcotics Control (ET&NC) Department has been conducting a road inspection for more than a week now. Authorities have inspected a total of 21,303 vehicles across the province.

    A total of 1,358 automobiles were seized for various reasons, with the paperwork of 1,958 vehicles also being confiscated during the road check, according to The News.

    Mukesh Kumar Chawla, the provincial minister in charge of (ET&NC), has planned a tax-collecting campaign. He went on to say that the campaign will run until June 3, after which the government will take action against automobiles that have not paid their taxes.

    Kumar issued a statement urging citizens to pay their taxes as soon as possible. Meanwhile, authorities claim to have recovered over Rs252 million in taxes from non-compliant car owners.

    The authorities had collected about Rs21.4 million in taxes from the car owners by the fourth day. Chawla has directed that non-compliant car owners be dealt with harshly by the authorities.