Income Tax Ordinance, 2001 — Section 165A: Furnishing of information by banks

1[165A. Furnishing of information by banks.— (1) Notwithstanding anything contained in any law for the time being in force including but not limited to the Banking Companies Ordinance, 1962 (LVII of 1962), the Protection of Economic Reforms Act, 1992 (XII of 1992), the Foreign Exchange Regulation Act, 1947 (VII of 1947) and the regulations made under the State Bank of Pakistan Act, 1956 (XXXIII of 1956), if any, on the subject every banking company shall make arrangements to provide to the Board in the prescribed form and manner, 2[(a) a list of persons containing particulars of cash withdrawals exceeding fifty thousand Rupees in a day and tax deductions thereon 3[ ], aggregating to Rupees one million or more during each preceding calendar month.";]

(b)a list containing particulars of deposits aggregating rupees 4[ten] million or more made during the preceding calendar month;

(c)a list of payments made by any person against bills raised in respect of a credit card issued to that person, aggregating to rupees 5[two] hundred thousand or more during the preceding calendar month; Chapter X – Procedure 1[ ]

(f)a list of persons containing particulars of their business accounts opened or re-designated during each preceding calendar month.]

(2)Each banking company shall also make arrangements to nominate a senior officer at the head office to coordinate with the Board for provision of any information and documents in addition to those listed in sub-section (1), as may be required by the Board.

(3)The banking companies and their officers shall not be liable to any civil, criminal or disciplinary proceedings against them for furnishing information required under this Ordinance.

(4)Subject to section 216, all information received under this section shall be used only for tax purposes and kept confidential.] Chapter X – Procedure 1[165C. Furnishing of information by online marketplace, payment intermediary and courier service. – (1) Notwithstanding the provisions of section 165 of the Ordinance, every payment intermediary and courier service responsible for deducting tax under sub-section (2A) of section 153 of the Ordinance shall file a quarterly withholding statement to the Commissioner for tax deduction regarding sale of digitally ordered goods and services for each quarter of a tax year in the prescribed form setting out –

(a)name, identification number (NTN/CNIC) and address of the seller;

(b)transaction date, unique identifier (invoice number) and total transaction value;

(c)the total amount of tax deducted at the time of payments to the seller; and

(d)any other particular may be prescribed.

(2)Every online marketplace in Pakistan shall submit a monthly statement containing name, address, Sales Tax and Income Tax registration number of every vendor registered on its platform supplying digitally ordered goods and services in e-commerce, transactional and aggregated quantum of seller‘s monthly turnover and the amount deposited into the vendor‘s bank account against such sale transactions.

(3)All the provisions of the section 165 excluding sub-sections (1), (1A) and (6) shall mutatis mutandis apply with respect to the due date of the filing of the withholding statements, revision of the statements, power to call for statement by the Commissioner, extension of time to furnish the statement after due date, power of the Board, filing of annual withholding statement and reconciliation of the withholding statement with the annual income tax return.]