The Federal Board of Revenue (FBR) has officially extended the deadline for filing monthly sales tax returns up to February 25, 2022. The extension applies specifically to the tax period of January 2022.
The announcement came through an official communication from the revenue body, providing relief to taxpayers facing challenges in the filing process. According to the communication, the last date for both the payment and submission of sales tax and federal excise returns for the tax period of January 2022 has been extended.
The revised deadline for the payment of sales tax and federal excise return for all taxpayers is now February 23, 2022. Additionally, the date for the submission of sales tax and federal excise return for all taxpayers has been extended to February 25, 2022.
The decision to extend the filing deadline was prompted by concerns brought to the FBR’s attention by the Pakistan Tax Bar Association (PTBA). On February 14, 2022, the PTBA formally communicated with the FBR chairman, highlighting errors and discrepancies in the sales tax return process. In response to these concerns, the PTBA requested an extension of the filing deadline for the Tax Periods of December 2021 and January 2022 until February 25, 2022.
While the FBR chose to extend the date only for the tax period of January 2022, the move reflects a collaborative approach between tax practitioners and the revenue authority. The extension aims to alleviate the challenges faced by taxpayers and practitioners, ensuring a smoother and more accurate filing process.
The PTBA’s engagement with the FBR underscores the significance of open communication between tax professionals and regulatory bodies. Such interactions contribute to the refinement of tax processes, addressing potential issues in a timely manner and enhancing the overall efficiency of the tax system.
The extension of the filing deadline aligns with the FBR’s commitment to creating a conducive environment for taxpayers and promoting compliance. It recognizes the complexities involved in the tax return filing process and acknowledges the importance of providing adequate time for accurate submissions.
Taxpayers are urged to take advantage of the extended deadline and utilize the additional time to ensure the accuracy and completeness of their sales tax and federal excise returns. The collaborative efforts between the FBR and tax practitioners serve as a positive example of how constructive dialogue can lead to practical solutions benefiting the entire taxation ecosystem.
As the new deadline approaches, stakeholders in the business community are advised to stay informed about any further updates from the FBR and to adhere to the revised timelines for filing sales tax and federal excise returns for the tax period of January 2022.
