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Tax return filing deadline extended for companies

Tax return filing deadline extended for companies

The National Board of Revenue (NBR) has extended the deadline for submission of tax returns for companies until Jun 15 this year for the tax year 2022-23. According to a notice issued on Tuesday (May 16), the benefit will be applicable for the companies that have sought time from the tax authority to file their tax returns.

The move came as many companies, which follow July-June as financial year, could not file their returns even after seeking time since the end of Tax Day – Jan 15 of every year.

Companies account for roughly 60 percent of total income tax – the second biggest source of revenue – collected by the NBR a year.

During the last fiscal year, nearly 29,000 companies filed their tax returns.