KCCI demands one month date extension for return filing

KCCI demands one month date extension for return filing

Karachi Chamber of Commerce and Industry (KCCI) on Saturday urged the Federal Board of Revenue (FBR) to extend the last date for filing income tax return up to November 30, 2022 from existing October 31, 2022

In a letter to FBR chairman, Asim Ahmed, the president of KCCI, Mohammed Tariq Yousuf demanded for the increase in the last date due to economic crisis and political instability.

The president also said that the business communities have not recovered from the disastrous caused by the unprecedented flash floods in the country which have terribly affected the cash flow of many businesses and receivables of previous fiscal year from several parts of the country.

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The increase in the last date will provide relief not only to the business community at large scale but will also facilitate the advocates/ chartered accountants and tax practitioner.

Prior to this tax bars have also raised serious concerns over the IRIS portal regarding return filing. Pakistan Tax Bar Association (PTBA) and Karachi Tax Bar Association (KTBA) in different communications with the FBR chairman urged removal of errors on the portal for smooth return filing.

PTBA stated that there were many errors on the portal which hampered the return filing. Therefore, the apex tax body urged the FBR to first remove errors on the portal and then provide statutory time to taxpayers in discharging their national duty.

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