VAT return submitted by July 15

VAT returns must be submitted by July 15, which is set by the government’s strict restrictions on coronavirus infection. As per the rules, every business has to submit VAT return along with their previous month’s account by the 15th of the following month. Otherwise interest and penalty are to be counted.

Despite the demands of traders, the government announced the closure of non-governmental organizations including markets. Products and service providers are open to a limited range under emergency services. In this situation many businesses are not able to pay VAT return. So time should be increased.

On the other hand, the NBR says that all customs, excise and VAT offices in the country are open to a limited extent, despite strict restrictions on the suffering of taxpayers or traders. There is also an opportunity to give returns online.

On Tuesday (July 13th), NBR Public Relations Officer (Director) Syed Mu’men said that all the customs, excise and VAT offices in the country are open in Corona for the convenience of the taxpayers. This is a special arrangement to ensure the submission of VAT filings within the stipulated date. According to the law, there is no opportunity to extend the time.

Earlier in April, an NBR order said that under the Value Added Tax and Supplementary Duty Act 2012 and the Value Added Tax and Supplementary Rules 2016, taxpayers are required to file VAT returns within 15 days of the end of the month. Otherwise there is provision for imposition of interest and penalty. For this reason, all the customs, excise and VAT offices of the country are open during the strict restrictions announced by the government to assist the traders in submitting monthly VAT returns and to facilitate the submission of receipts.

Sunbd/NJ