ISLAMABAD: The Federal Board of Revenue (FBR) has issued a strict warning to businesses and institutions in several sectors, directing them to complete their registration and file income tax returns by September 30.
14 categories of businesses that were previously directed to integrate with the sales tax system are required to comply with the FBR’s instructions before the deadline.
The FBR will closely monitor compliance and take action against businesses that fail to meet the requirements within the prescribed time.
The affected businesses include hotels, guest houses, marriage halls, clubs, beauty parlours, slimming centres, massage centres and beauty clinics. Owners and operators of these establishments are required to complete their FBR registration and submit their income tax returns.
The directive also covers operators of air-conditioned intercity buses, hair transplant clinics, dental clinics, plastic surgeons, veterinary hospitals and doctors charging more than Rs500.
In the healthcare sector, laboratories, diagnostic centres, X-ray centres, private hospitals, private consultants and healthcare centres are also included in the FBR’s compliance drive.
Several prominent clubs and recreational establishments also fall under the scope of the requirements. These include Karachi Gymkhana, Royal Palm Country Club, Chenab Club, Islamabad Club and Lahore Gymkhana.
Health clubs, swimming pools, fitness clubs and multipurpose clubs have also been directed to comply with the tax authorities’ requirements.
The FBR has further included chartered accountant firms and cost management companies in the categories required to complete the necessary registration and filing process.
Schools and colleges are also covered by the directive, particularly educational institutions charging monthly fees of Rs1,000 or more. Such institutions are required to fulfill the FBR’s registration and income tax return requirements by the September 30 deadline.
In addition, all universities and training centres must complete their FBR registration and file their income tax returns within the specified timeframe.
The latest move is part of the FBR’s efforts to broaden the tax base and bring more businesses, professional services and institutions into the formal tax system.
Businesses and institutions falling within the specified categories have been advised to complete the required formalities before the deadline to avoid potential compliance issues.
