Yarn merchants demand date extension for filing sales tax return

Yarn merchants demand date extension for filing sales tax return

KARACHI: Pakistan Yarn Merchants Association (PYMA) on Wednesday urged the tax authorities to extend the date for payment of sales tax and filing monthly return for the period April 2021.

In a joint statement, Hanif Lakhany, Vice President, Federation of Pakistan Chambers of Commerce & Industry (FPCCI) and PYMA Senior Vice Chairman and Farhan Ashrafi, Vice Chairman PYMA & convener FPCCI’s Central Standing Committee on Yarn Trading, have urged the Chairman of Federal Board of Revenue (FBR) for extension in dates of payment and submission of Sales Tax and Federal Excise Return for the Tax Period of April 2021, by at least 2 weeks, as business community could not file sales tax and federal excise returns due to the long Eid holidays.

In a letter to FBR Chairman Asim Ahmed, Hanif Lakhany and Farhan Ashrafi stated that in response to PYMA’s demand for extension till May 31, 2021, the dates for filing sales tax & FE returns extended till May 18, 2021 only.

“But the Eid holidays did not benefit the business community and they could not prepare and submit their sales tax and federal excise returns for the month of April 2021 in the limited number of days announced,” according to the statement.

“It is difficult for the business community to work in the face of the COVID-19 pandemic, given the already limited business hours and the risks of the epidemic,” they added.

In such a situation, the FBR needs to make it easier for the business community to file their taxes easily.

Hanif Lakhany and Farhan Ashrafi requested the Chairman FBR to extend the deadline for submission of sales tax and FE returns by at least 2 weeks, so that the business community can submit their returns without any hassle, which will be warmly welcomed by the business community.

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