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FBR extends deadline for digital payments to 30th

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ISLAMABAD: The Federal Board of Revenue (FBR) has extended the deadline for digital payments by the corporate sector stipulated in Section 21 (la) of Income Tax Ordinance-2001 up to 30th November, 2021.
In a statement on Monday, the FBR said it has exercised this power conferred under Section 214A of the Income Tax Ordinance-2001 after receipt of various representations filed by the taxpayers.
It is pertinent to mention that most of the chambers of commerce and industry and trade associations demanded FBR to extend the deadline for digital payments by the corporate sector.
Meanwhile, the FBR has granted advance income tax exemption on the import of drones that were donated by the government of China to assist Pakistan’s agriculture sector. The FBR on Monday issued a notification to allow the exemption. The exemption has been granted by amending the Second Schedule of the Income Tax Ordinance, 2001.
In its meeting on August 31, 2021, the federal cabinet had, in principle, granted tax exemption on the import of drones donated by the Chinese Ministry of Agriculture and Rural Affairs.
In pursuance of the Cabinet decision, the FBR issued SRO 1407 (I)/2021 to allow the income tax exemption.
Previously, the Chinese government had shown intention to provide around 38 more agricultural drones to Pakistan in a few months to fight desert locusts and in July 2021, the Chinese Ministry of Agriculture and Rural Affairs handed over the drones for the prevention of desert locusts to the Ministry of National Food Security and Research of Pakistan. – TLTP