VAT return deadline to be extended: FM
The National Board of Revenue (NBR) asked businesses to submit VAT returns for March by April 15
Finance Minister AHM Mustafa Kamal said on Monday that deadline of Value Added Tax (VAT) return by the companies will be extended.
"I have already talked to the chairman of National Board of Revenue (NBR) on this issue," Finance Minister told The Business Standard.
The National Board of Revenue (NBR) asked businesses to submit VAT returns for March by April 15.
Those failing to submit, will have to pay fines according to the Value Added Tax and Supplementary Duty Act 2012, it warned in a notice.
Business owners termed the notice unlawful and controversial, saying this has been served amid the countrywide shutdown that has closed most factories and businesses.
