Banks extend working hours for tax collection on Dec 30-31

December 29, 2023 (MLN): To facilitate taxpayers in paying government duties and taxes, branches of all banks open on Saturday will have extended working hours until 5:00pm on December 30, 2023.

Additionally, they will remain open until 8:00pm on Sunday, December 31, 2023, for the collection of taxes through Alternate Delivery Channels and Over-the-Counter facilities.

The external communication department of the central bank was informed through a press release today.

Further, to ensure same day clearing/ settlement of payment instruments, NIFT has been advised to arrange special clearings at 3:00pm on Saturday, December 30, 2023, and at 5:00pm on Sunday, December 31, 2023.

To eliminate the issue of spillover of tax receipts, banks shall ensure that no instrument concerning government receipts, lodged during the aforementioned office hours, remain unattended at branch counters and must be lodged in the aforesaid special clearing in the value date of December 31, 2023.

Moreover, banks are advised to keep their concerned branches open on December 30 and 31, 2023 till such time that is necessary to facilitate the special clearings for Government transactions by the NIFT, the notice added.

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