Islamabad, Pakistan: The Federal Board of Revenue (FBR) has extended the deadline for taxpayers to submit an affidavit with their Sales Tax Returns.
The FBR introduced the affidavit requirement to sensitize authorized representatives and CFOs about their legal obligations and to deter fraudulent practices. FBR
However, the FBR has received feedback from trade bodies expressing concerns about the requirement.
In response to these concerns, the FBR has decided to:
- Defer the affidavit requirement for the tax period September 2024.
- Seek alternative proposals from stakeholders to address concerns about the affidavit.
- Consider modifying the particulars of the affidavit if necessary.
The FBR has emphasized that the affidavit does not impose any new legal obligations on taxpayers. However, it is crucial for taxpayers to file accurate returns to avoid penalties and legal consequences.
The FBR’s decision to extend the deadline and seek feedback from stakeholders demonstrates its commitment to improving the tax filing process and addressing concerns raised by the business community.