The National Board of Revenue (NBR) extended the deadline for updating VAT registration information to August 14 to help VAT payers submit their returns, officials said.
This precedes the last date of August 15 for businesses to submit their returns on VAT collection and business information for the month of July.
The earlier deadline for updating VAT registration or Business Identification Number (BIN) information was scheduled to expire on Wednesday (July 31).
All the existing VAT-registered businesses, around 166,000, will have to update their information as per the new VAT law to keep their nine-digit BIN active.
BIN is mandatory for import-export and other major business activity.
Businesses will have to sign up again on the site of electronic BIN (e-BIN) and fill up the VAT 2.1 form as per the amended VAT act and rules.
Officials said the NBR took the initiative to clean up the fake BINs from the database.
The VAT online project will deactivate BINs of businesses failing to update their information, the officials said.
The officials also said many of the businesses failed to update their BINs by the scheduled deadline as per directive of the NBR due to technical glitches on the server.
The VAT wing extended the deadline considering the problems faced by the businesses to access the server.
doulot_akter@yahoo.com