07/05/2020
According to the two proposed ordinances, penalty and interest can be exempted in the case of failure to submit the VAT return and pay income tax within the stipulated time during a crisis like coronavirus, said Cabinet Secretary Khandker Anwarul Islam at a press briefing.
Besides, the National Board of Revenue (NBR) also can extend the timeframe for submission of the VAT return and payment of taxes.
The two proposed laws are âValue Added Tax and Supplementary Duty (Amendment) Bill 2020â and âIncome-Tax (Amendment) Ordinance 2020â