LAHORE: The Punjab Revenue Authority (PRA) has extended payment date of sales tax up to 24th January 2022.

According to a notification issued on Monday, the PRA has decided to extend the due date of payment of sales tax and filing of sales tax returns/withholding statements for the tax period December 2021.

All the registered persons including their agents are allowed to file their returns and withholding statements up to 24th January 2022, it added.

It may be noted that the Authority is expected to surpass the annual budget target of revenue collection of Rs 155.9 billion likewise the last year while it has already registered more than 100,000 taxpayers by December 2021 against the target assigned till June 2022.

The authority has already collected Rs 72 billion revenue in the first half (January-December) of the ongoing fiscal year 2021-22 as compared to the corresponding period of last fiscal year of Rs 58 billion. Further, out of the Rs 58 billion, the PRA had received Rs 16 billion from Federal Board of Revenue in adjustment of taxes already collected by the board.

Copyright Business Recorder, 2022