Extension in time for Payment of Sales Tax & Federal Excise Duty. Tax Period January – 2020 & February- 2020
Tax Period February – 2020
In continuance of its steps to redress the hardships faced by businesses during the COVID-19 pandemic outbreak, Federal Board of Revenue (“FBR”) has announced extension in date for payment of Sales Tax and Federal Excise Duty for the tax period February-2020. In its letter of 31’ March’ 2020 to all Chief Commissioners Inland Revenue, FBR has extended the aforesaid payment date up to 12’ April’ 2020.
Originally, the payment of Sales Tax and Federal Excise Duty for Tax Period February-2020 was due by 15’ March’ 2020. Earlier, FBR had extended the payment date up to 31’ March’ 2020 vide its letter dated 24’ March’ 2020.
The date for filing of Sales Tax and Federal Excise return for February-2020 has not been changed i.e. 15’ April’ 2020 as announced by FBR earlier.
Tax Period January – 2020
The date for payment of Sales Tax and Federal Excise Duty for the Tax Period January-2020 has also been extended up to 12’ April’ 2020 vide FBR’s letter dated 1’ April’ 2020.
The date for filing of Sales Tax and Federal Excise return for January-2020 is 15’ April’ 2020 as announced by FBR earlier.
Integration of TIER-1 Retailers with FBR’s System
FBR has also extended the time for integration of Tier-1 Retailers’ Point of Sales (POS) with the computerized system of FBR. According to FBR’s letter dated 2’ April’ 2020 to all Chief Commissioners Inland Revenue, FBR has extended the said date up to 30’ April’ 2020 subject to the condition that the retailers are required to file their willingness to such integration with the concerned RTOs / LTUs by 20’ April’ 2020.
If you require our assistance in understanding the specific implications of this Alert to your business, please feel free to contact us.
Muzammal Rasheed
Chief Executive / Partner
muzammalr@enfoque.com.pk
Laeeq Siddique
Partner
laeeqs@enfoque.com.pk