The business community including trade and industry expressed serious concerns over the long holidays while exporters and pharmaceutical industry termed the holidays disastrous for the economy. AFP/File
KARACHI: For facilitating trade and industry, the State Bank of Pakistan (SBP) has decided to keep banks open on May 10-11, while the Ministry of Commerce also announced that export industries and their suppliers indirect exporters will remain operational on May 10-12.
Earlier, the SBP announced that banks will remain closed from May 10 to 15th for Eid holidays.
An official announcement of the commerce ministry said that the decision was taken following the approach of the business community for clarification regarding business operations during the long Eid holidays. Ports and Customs will also be operational during the break period.
FBR Extends Deadline for Payment and Submission of Sales Tax and FED Return
The Federal Board of Revenue (FBR) has extended the deadline for the payment and submission of Sales Tax and Federal Excise Return for the Tax Period of April 2021 under Section 74 of the Sales Tax Act, 1990, and Section 43 of the Federal Excise Act, 2005.
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In its letter to all the Chief Commissioners IR, the FBR highlighted the extension of the date for the payment of Sales Tax and FED from 15 May to 18 May 2021. Similarly, the date for the submission of Sales Tax and Federal Excise Return has been extended from 18 May to 21 May 2021.
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