The FTA has extended the VAT Return deadline and Tax Payment deadline by one month to 28th May 2020 for the period ended 31st March 2020.
The FTA has extended the VAT Return deadline and Tax Payment deadline, keeping in view the troubles caused by novel Coronavirus (COVID- 19) as in certain areas, individuals and vehicles have a restricted movement.
This move by the FTA will relax the tax registrants in fulfilling their tax obligations, filing vat returns, and settling their payable taxes. It will allow them to have sufficient time on hand to obey the new deadline.
VAT Registrants must:
- File their tax returns and settle payable tax for the period 1st March 2020 to 31st March 2020 by 28th May 2020. – Monthly Filing
- File their tax returns and settle payable tax for the period 1st January 2020 to 31st March 2020 by 28th May 2020. – Quarterly Filing
- Settle tax payable for the period ending 31st March 2020 by 28th May 2020.
This directive from the Federal Tax Authority is exceptional, and it pertains only to the tax periods that ended on 31st March 2020. It does not apply to any other tax periods where the normal deadline for filing of vat returns and settlement of payable tax does not fall in April 2020.