ISLAMABAD, AUGUST 17: The deadline has been moved from August 18 to August 23, five days earlier than originally stated in a notice that was sent out on Saturday.
This extension gives taxpayers more time to submit their federal excise (FE) and sales tax (ST) filings. The change is meant to make things easier for taxpayers and guarantee a seamless filing experience.
It is anticipated that the FBR’s decision will release some of the burden on companies and people who might have had trouble achieving the first deadline. The FBR intends to increase compliance and lower the possibility of fines related to late submissions by extending the deadline.
However, the Punjab government altered the Punjab Finance Act of 1977 on Friday to implement a professional tax, which alarmed citizens all throughout the state.
Workers will have an additional financial burden as a result of the new tax, which will be taken straight out of their pay in a number of industries.
With this most recent move, the Punjab government—which has already come under fire for a number of its economic policies—has been charged with lying yet another “bombshell” on the impoverished. The Punjab Finance Act of 1977 was to be amended, at the request of the Punjab government.
The professional tax has been made mandatory for all companies operating within the province, requiring them to deduct the amount from their employees’ salaries.
