Karachi, September 25, 2024 – The Karachi Chamber of Commerce and Industry (KCCI) has formally requested the Federal Board of Revenue (FBR) to extend the deadline for filing income tax returns for the tax year 2024.
KCCI President Iftikhar Ahmed Sheikh emphasized the need for a one-month extension, proposing that the new deadline be set for October 31, 2024. This appeal aims to allow a greater number of taxpayers to submit their returns amid ongoing challenges.
In his statement, Sheikh noted that many members of the business community were preoccupied with election activities related to various chambers of commerce and trade bodies throughout Pakistan during September. As a result, they have been unable to finalize the necessary documentation required for income tax return submissions. The current deadline is set to end on September 30, 2024, adding pressure on taxpayers to meet compliance requirements.
Sheikh also highlighted technical issues faced by taxpayers when attempting to use the FBR’s IRIS portal. Many KCCI members reported that the portal experienced significant downtime on Wednesday morning. Even when access was restored, users encountered slow performance, causing widespread frustration among those trying to update their tax data. “Every year, as the deadline approaches, we receive numerous complaints regarding the malfunctioning and slowdown of the IRIS portal,” he said, emphasizing the need for improvements to the system’s capacity and efficiency.
The KCCI president pointed out the paradox of the FBR’s stricter measures against non-filers while neglecting to enhance the IRIS system, which is crucial for facilitating return submissions. He argued that the current system should be simplified, enabling taxpayers to file their returns independently, without the need for tax consultants, thus avoiding additional costs. Sheikh reiterated that the complicated procedures deter many potential filers from participating in the tax system.
In his appeal, Sheikh expressed hope that the FBR would consider the KCCI’s request, recognizing the unique challenges faced by taxpayers, especially in light of the ongoing economic conditions. An extension of the deadline would not only alleviate stress for taxpayers but also potentially increase overall compliance, benefiting the government’s revenue collection efforts in the long run.
As the September 30 deadline approaches, the KCCI remains vigilant in advocating for the rights and interests of the business community, urging the FBR to take swift action to address the concerns raised by its members. The chamber’s proactive stance reflects a commitment to fostering a more taxpayer-friendly environment in Pakistan’s complex tax landscape.
