Draft Amendment Ordinance on Value Added Tax and Supplementary Duty Finalized

Photo: Collected

News Desk: To bring greater efficiency to the revenue collection process at the field level, the Cabinet has given both in-principle and final approval to the draft Value Added Tax and Supplementary Duty (Amendment) Ordinance, 2026.

Following the approval of the amendment, the provision requiring tax returns to be submitted within no more than 15 days after the end of each tax period has been reinstated, replacing the previous provision that allowed submission within 15 days after the completion of three tax periods.

The approval was given at the 22nd Cabinet meeting held at the Secretariat on Monday (September 28), chaired by Prime Minister Tarique Rahman.

The draft was presented at the initiative of the Internal Resources Division to amend Section 64 of the Value Added Tax and Supplementary Duty Act, 2012.

The key amendments in the draft include reinstating the provision requiring returns to be submitted within no more than 15 days after the end of each tax period, instead of after every three tax periods. If the 15th day falls on a government holiday, the return must be submitted on the next working day.

Any government, semi-government, or autonomous organization, as well as banks, insurance companies, and individuals or entities filing nil returns, will be allowed to submit their returns within no more than 20 days after the end of the relevant tax period.