- FBR guidelines out extension in due date for submitting of revenue tax returns.
- Final date for submitting tax returns is September 30.
- FBR advises all taxpayers to fulfil their authorized obligation with out ready for the final date.
ISLAMABAD: The Federal Board of Income (FBR) on Tuesday clarified that it isn’t contemplating an extension within the date for submitting annual revenue tax returns.
In response to an announcement by the FBR spokesperson, taxpayers ought to submit annual tax returns earlier than September 30.
Responding to information concerning a supposed extension within the date, the spokesperson categorically denied this was the case, stating that no proposal on this regard has been thought-about on the FBR headquarters.
In a casual dialog with journalists, FBR spokesperson Asad Tahir stated: “To date, 0.8 million individuals have filed their returns.”
He added that no strict motion will probably be taken in opposition to merchants however stated that after 15 days, show-cause notices will probably be issued to merchants who aren’t affiliated with Level of Gross sales (POS).
“Failure to put in POS will lead to a superb value Rs500,000 after 15 days,” the spokesman stated, including that if merchants apply POS in 15 days, the superb will probably be waived off.
Tahir additional added that failure to put in POS after a month will lead to a superb value Rs3 million. “In the meantime, closing down companies would be the final resort,” he added.
Earlier this month, the FBR suggested all taxpayers required to file tax returns by September 30, 2021, to fulfil their authorized obligation with out ready for the final date to keep away from system delays which happen when numerous taxpayers log in for submission of returns close to the deadline.
FBR had clarified on the time that there will probably be no extension within the due date for submitting revenue tax returns.