Pakistan announces one month date extension for tax return filing

Pakistan announces one month date extension for tax return filing

KARACHI: Pakistan on Monday announced extension in filing of income tax return by one month to November 30, 2022 from existing October 31, 2022.

Finance Minister Ishaq Dar announced to extend the last date for filing return for tax year 2022.

The minister said that October 31, 2022 was the last date for filing income tax returns, however on the request of representations of tax bar association and the business community, the government has decided to extend the date for one month up to November 30, 2022.

READ MORE: PTBA seeks clear 90 days for return filing after making portal error free

The Federal Board of Revenue (FBR) has already given date extension from September 30, 2022 to October 31, 2022. It was second date extension for return filing tax year 2022.

Previously, the FBR extended the date on the complaints from the stakeholders that many errors on the IRIS portals hampered the return filing activities.

Although, currently many glitches have been addressed on return filing portal yet a large number of calculation errors still challenging the taxpayers.

Tax experts said that that long march started by PTI chairman, Imran Khan caused political uncertainty which has adversely affected the business activities in Pakistan

Pakistan Tax Bar Association (PTBA) and Karachi Tax Bar Association (KTBA) in different communications with the FBR chairman urged for the extension in last date because of the error in the IRIS portal.

READ MORE: KCCI demands one month date extension for return filing

The experts also said that the IRIS portal is surrounded with many calculation errors which is preventing the taxpayers while filing their income tax returns.

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.

The unprecedented flash floods in the country have terribly affected the cash flow of many businesses and receivables of previous fiscal year from several parts of the country.

The PTBA demanded the tax authorities of providing clear 90 days for return filing from the date when the portal is error free.

READ MORE: Calculating property valuation uphill task in completing tax return: Rehan Jafri

The increase in the last date will facilitate the taxpayers and business community at large scale to file income tax return on the error free IRIS portal.

The PTBA also suggested that timely decision be appreciated by the taxpayers/legal fraternity, who are working very hard day & night by playing their part towards the legal responsibility for contributing towards national exchequer.

READ MORE: FBR may extend return filing date due to political unrest, floods, IRIS errors

It will also help in the collection of taxes at the appropriate time.

Leave a Reply

Your email address will not be published. Required fields are marked *