ISLAMABAD – The Federal Board of Revenue (FBR) has announced an extension in the deadline for filing sales tax and federal excise return for the month of February 2020.
The decision to extend the last date for submission was communicated through a circular issued on Wednesday to all chief commissioners Inland Revenue of Large Taxpayers Unit (LTUs) and Regional Tax Offices (RTOs).
The circular informed that the deadline for filing sales tax and federal excise returns for the tax period of February 2020, which was initially set for March 18, 2020, has been extended to March 25, 2020. This extension provides taxpayers with an additional window of time to fulfill their filing obligations and submit the required returns.
The move comes as part of the FBR’s ongoing efforts to facilitate taxpayers and streamline tax-related processes. The extension aims to accommodate businesses and individuals who may require extra time to compile their financial information and meet their tax obligations for the specified period.
The FBR has urged taxpayers falling within the purview of the extended deadline to take advantage of the additional week granted for return filing. This extension is particularly relevant for businesses and entities dealing with sales tax and federal excise matters, giving them the flexibility needed to ensure accurate and timely submissions.
The circular emphasized the importance of adhering to tax deadlines and fulfilling obligations to maintain the integrity of the tax system. Timely filing of returns not only contributes to the efficiency of tax administration but also allows businesses to stay compliant with regulatory requirements.
In addition to the extended deadline, the FBR continues to encourage electronic filing and online transactions for tax-related processes. The adoption of digital platforms aims to enhance the efficiency, transparency, and accessibility of tax services for both taxpayers and tax authorities.
The decision to extend the deadline takes into account the practical challenges that taxpayers may face, including the need for additional time to gather and organize financial data. By providing this extension, the FBR demonstrates a responsive approach to the evolving needs of the business community and individuals affected by the tax filing process.
Taxpayers are advised to stay informed about updates and notifications from the FBR to ensure compliance with the latest regulations and deadlines. The FBR’s commitment to facilitating taxpayers underscores the importance of a collaborative and supportive relationship between tax authorities and the business community in fostering a robust and transparent tax ecosystem.
