To assure real-time receipt and improve the government's overall cash flow, the National Board of Revenue (NBR) has made electronic payment mandatory for all types of taxes.
Any amount of tax must be paid to the state treasury via electronic methods following a notification issued by the NBR on March 23.
According to tax administration officials, taxpayers have to pay up to Tk500,000 by automated challan (A-Challan) or e-payment.
Electronic payment will ensure real-time deposit of taxes when previously the tax collector had to wait for some time due to payment through pay orders or treasury challan.
The pay order and manual treasury challan have been phased out under the new rule, according to an NBR official.
They said the tax administration opted to comply with a demand imposed by multilateral lenders that all tax payments be made electronically.
