Section 21 (of Finance Act):
If any Individual (Natural Person) who has not filed The Return of Income Tax during or before F.Y. 2072/73, Files the return of F.Y. 2071/72 and F.Y. 2072/73 and pays tax therein, within Paush end, 2075, The Income tax and Fees and charges before such period shall be waived.
If any person who has not filed the Return of VAT upto Ashad end, 2074, files such return and pays the tax dues therein within poush end, 2075, the Interest, fines and penalties in such tax shall be waived.
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ReplyDeleteKeeping tax rates at a reasonable level can encourage the development of the private sector and the formalization of businesses.
ReplyDeleteIssacqureshi Tax Specialist in London