KARACHI, October 24, 2023 – The Federal Board of Revenue (FBR) and the Karachi Tax Bar Association (KTBA) convened on Tuesday to deliberate on challenges surrounding the filing of tax returns for the tax year 2023.
The online meeting transpired with a mere six days remaining before the looming deadline for the submission of income tax returns.
Originally set for September 30, 2023, the deadline for income tax filing was extended by the FBR to October 31, 2023, in response to stakeholder grievances and concerns. These concerns primarily revolved around the functionality of the online return filing portal – IRIS 2.0, which had been a source of distress for many taxpayers.
The KTBA, an authoritative body in tax matters, presented several objections to the FBR during the virtual meeting. Their concerns were centered on the numerous unresolved issues plaguing the IRIS 2.0 platform, despite the impending deadline for filing tax returns.
Zeeshan Merchant, a former President of KTBA and a senior member of the current administration, confirmed the occurrence of the meeting. He elucidated that the discussion encompassed various issues associated with tax return filing and the challenges taxpayers were grappling with. While acknowledging the persistence of certain issues, Merchant also conceded that the FBR had effectively addressed several other concerns previously raised.
Member of Information Technology (IT) at the FBR expressed their commitment to prioritizing the resolution of the ongoing issues to ensure a smoother and more efficient tax return filing process.
One critical issue that took precedence during the deliberations was the adjustment of refunds against current tax liabilities. This issue, in particular, has been a source of consternation for taxpayers and required in-depth discussion.
However, certain sources indicate that the KTBA did not directly address the issue of extending the filing deadline during the meeting. Instead, the tax bar emphasized the importance of rectifying the return filing portal’s errors and ensuring a flawless system. They advocated for providing taxpayers with the required statutory time frame for their compliance, rather than extending the deadline.
