Karachi: The Karachi Chamber of Commerce and Industry (KCCI) has urged the authorities to extend the deadline for payment under Section 7E of the Income Tax Ordinance, 2001.
(more…)Tag: Karachi Chamber of Commerce and Industry
-
Karachi Chamber warns mass job cuts due to economic crisis
KARACHI: Karachi Chamber of Commerce and Industry (KCCI) on Friday warned the government of mass job cuts due to prevailing economic crisis.
(more…) -
Qatari envoy highlights FIFA World Cup 2022 arrangements
KARACHI: Consul General of Qatar Mishal Mohammad Ali Al-Ansari has highlighted arrangement for FIFA World Cup 2022 in Qatar, kicking off this Sunday November 20, 2022.
During his visit to Karachi Chamber of Commerce and Industry (KCCI), Qatari CG informed that the State of Qatar was ready to welcome friends and visitors from around the world which will kicks off this Sunday, November 20th, and the matches will take place in eight outstanding stadiums in which Qatar was expecting more than 3 million spectators who will be in Qatar to watch this historical event.
“A lot of work has been done to prepare, overprepare and go beyond to make sure that everything goes on smoothly. All sectors including security, hotels, rooms and transportation etc. have been fully covered while Pakistan Army’s staff is also part of the security team”, he said, adding that to be on the safe side, three cruise ships have also been booked of which two have already arrived in Qatar to accommodate visitors in case all the hotels in Qatar were fully booked.
He said: “These gigantic cruise ships comprising of 26 floors and having 1,000 rooms each are already docked whereas thousands of luxurious tents having rest rooms and bed rooms have also been established in the desert as it is a totally different world cup in which all the matches will be played in eight stadiums situated in one city and away at a distance of half-an-hour from each other.
“Of course, it’s going to be a month of festivities and the people have already started pouring into Qatar from Argentina, Brazil and Europe so it’s a big party scene now.”
Qatar stood in solidarity with the people of Pakistan during this year’s flashfloods and torrential rains. “As our sympathies are for those who have lost their livelihood, several Qatari aircrafts carrying hundreds of tons of emergency relief aids arrived in our brotherly country under the directives of His Highness Sheikh Tamim bin Hamad Al Thani and the humanitarian support from Qatar continues to date which demonstrates our commitment.”
Qatar is Pakistan’s thirteenth biggest trade partner and in 2021, the bilateral trade volume between the two brotherly countries was over $2.73 billion which continues to show steady growth.
“Qatar and Pakistan have well established relations which are based on shared religion, culture, abilities and geographical proximity”, he added.
Referring to last year’s meeting in August in Diwan-e-Amiri, Doha between Qatar’s Emir Sheikh Tamim bin Hamad Al Thani and Prime Minister Shehbaz Sharif, he said that both leaders besides stressing on the importance of brotherly and strategic relations, expressed aspirations to enhance economic partnership, bilateral trade exchanges and investments promotion through Qatar Investment Authority. “In this regard, Qatar Investment Authority announced to invest US$3 billion various commercial and investment sectors in Pakistan.”
President KCCI Mohammed Tariq Yousuf, Senior Vice President Touseef Ahmed, Vice President Muhammad Haris Agar, Former President Majyd Aziz and KCCI Managing Committee Members were also present on the occasion.
President KCCI Mohammed Tariq Yousuf, while welcoming the Qatari Consul General, stated that Pakistan and Qatar enjoy strong, bilateral, social, political & economic relationship. “Pakistan has sent over 1.1 million workers abroad during the last three years despite COVID-19 pandemic, out of which 53,000 plus workforce were exported to Qatar”, he noted, adding that both countries must work together to develop capacity building of Pakistan’s skilled workforce to match the requirements of employers abroad with a view to improve remuneration for Pakistani expatriates.
He said that trade volume between both countries has skyrocketed to new heights as compared to previous years on account of the LNG supply agreement. “We urge Qatari investors to invest in Pakistan’s petroleum industry to develop the LNG domestic market which holds tremendous opportunities for foreign investments.”
Tariq Yousuf urged that as Qatar was one of the top Liquified Natural Gas (LNG) suppliers in the world and Pakistan was currently facing severe energy crises, Qatar’s authorities must supply LNG to Pakistan on a priority basis to address the shortages.
Underscoring the need to strengthen bilateral economic cooperation through enhanced interaction between private sectors, he noted that Pakistan’s exports to Qatar stood at $196.6 million in FY22 as compared to $149.8 million in FY21, reflecting growth of over 31% on-year-on-year basis while Pakistan’s imports from Qatar appreciated to $2.68 billion in FY22 as compared to $1.32 billion in FY21, reflecting growth of over 100 percent on-year-on-year basis.
Urging Qatari investors to explore the opportunities available in CPEC, he said that Pakistan has tremendous investment opportunities in Energy, Transport Infrastructure, Gwadar, Socio-Economic Development, Science & Technology & Agriculture Cooperation.
“Qatari investors can capitalize on advancing energy-related cooperation, promoting trade and investment ties, exploring opportunities & joint ventures in Pakistan’s energy, aviation, agriculture and livestock, maritime, sports & hospitality sectors, which will pave way for further strengthening Pak-Qatar economic relationship.
-
Industries threaten mass protest against gas supply shutdown
KARACHI: Industries have threatened the government of across the board protests against suspension of gas supply, which halted industrial activities and is affecting exports.
Karachi Chamber of Commerce & Industry (KCCI) and Industrial Town Associations, while expressing deep concerns over suspension of gas supply to the industries in Karachi, stated that all the industries were almost closed and the pressure was zero, resulting in bringing the production activities to a complete standstill which would give a serious blow to the exports by terribly affecting the performance of export-oriented as well as general industries, besides triggering massive unemployment and creating chaos.
READ MORE: Pakistan organizes first international housing expo next month
In a joint statement, KCCI along with Site Association (SAI), Korangi Association (KATI), F.B Area Association (FBATI), North Karachi Association (NKATI), Site Superhighway Association (SSAI) and Bin Qasim Association (BQATI) appealed Prime Minister Shehbaz Sharif and Energy Minister Shahid Khaqan Abbasi to take notice of the situation and look into the possibility of supplying RLNG to SSGC for domestic usage as being done in case of SNGPL so that the gas crisis being suffered by the industries in Karachi could be averted.
They stated that the business & industrial community totally rejects gas supply curtailment announced by the SSGC and the Karachi Chamber along with Industrial Town Associations will shortly announce the future plan of action if relief was not provided immediately which may even lead to triggering across the board protests.
READ MORE: APTMA urges PM to save textile industry from total closure
Referring to SSGC’s statement in response to a joint press release issued on November 11, 2022 by KCCI and all seven industrial town associations, they said that a meeting was held between SSGC and federally constituted committee comprising representatives of industries from Karachi who gave numerous suggestions, of which one of the suggestion was to either close down gas supply to industries for two day a week or carry out gas load shedding for eight hours a day so that SSGC could maintain its line pack and the industries receive gas for 16 hours a day at required pressure so that they could keep on operating efficiently.
However, this unfortunately, was not done and later on, without taking the stakeholders on board, SSGC issued a notification/ letter to industries about suspension of gas supply which contained several ambiguities as in the said letter, SSGC has issued a caution for future as well by saying that every year gas supply will remain suspended. Subsequently, it has also been notified that 50 percent of gas supply to captive power plants will also be curtailed without explaining that what will happen to those industries who do not have KE connection or any other source and the process of gas supply suspension to general industries has also not been properly explained.
READ MORE: Reducing foreign currency cash carrying limits to half criticized
SSGC must refrain from giving misleading statements in the media by sharing those decisions which were neither discussed nor agreed upon by the federally constituted committee in any of the meetings held to discuss gas crisis, KCCI and Industrial Town Associations urged, adding that several meetings were held in this regard but without taking us into confidence, SSGC has issued improper notification.
KCCI and Industrial Town Associations, while once again urging the government to take notice, stated that the overall situation was really alarming in Karachi which would terribly affect industrial performance, exports and have a deep negative impact on the economy due to rampant unemployment as suspension of gas for three consecutive months would obviously cause massive layoffs and massive reduction in exports.
READ MORE: KATI suggests Pakistan, Sri Lanka trade in local currency
-
FBR may withdraw condition of invoice, packing list in containers
KARACHI: Federal Board of Revenue (FBR) may withdraw the mandatory condition of invoice and packing list in containers for subsequent examination and customs clearance.
Asim Ahmad, chairman, Federal Board of Revenue (FBR) during his visit to Karachi Chamber of Commerce and Industry (KCCI) on Saturday responding on the issue of placement of invoice and packing list in containers of import cargo.
The FBR Chairman, while totally agreeing to the business community, stated that FBR was well aware of this issue and has carried out an extensive exercise to understand it in light of global practices and found business community’s concerns valid. “The FBR was looking into to the possibility of withdrawing this condition,” according a statement issue by the KCCI quoting the FBR chairman as saying.
READ MORE: Customs Enforcement announces auction of vehicles on Nov 09, 2022
Regarding customs valuation, he said that the entire process of valuation was being revamped which will be following the international market-based concept and the relevant law, in this regard, has already been amended.
Several international publications were regularly posting prices of different types yarns from several origins/ countries which will be electronically linked with the revamped Valuation System wherein valuations will be regularly according to current international yarn prices, he added while speaking at a meeting during his visit to the Karachi Chamber of Commerce & Industry on Saturday.
Chairman FBR, while referring to concerns expressed over unnecessary/illegal raids, assured to discuss the issue with DG Customs Intelligence and advised the members of business community to bring all such cases of unjustified raids to FBR’s notice so that action could accordingly be taken. A circular was also issued on 19th October wherein all FBR Field Formations have strictly been advised not to conduct raids.
Commenting on issues emerging due to exemptions on import of black tea for FATA, PATA and Azad Kashmir, Asim Ahmed agreed that the exemptions were being misused but these exemptions will be ending on June 30, 2023. FBR devised a mechanism last year wherein, quota was fixed for these areas according to their production capacity. “It is now the stakeholders who should tell the FBR whether the situation has improved or not.” In response, the relevant importers informed that it was the other way around as imports have risen in these areas.
READ MORE: FBR auctions confiscated immovable properties on Nov 15, 2022
Touching upon the issue of placement of invoice and packing list in containers of import cargo, Chairman FBR, while totally agreeing to Chairman BMG’s remarks, stated that FBR was well aware of this issue and has carried out an extensive exercise to understand it in light of global practices and found business community’s concerns valid therefore, the FBR was looking into to the possibility of withdrawing this condition.
He further mentioned that withholding tax on inward remittances of indenters’ commission has been reduced from 5 percent to 1 percent in this year’s budget while the 13 percent Sales Tax being paid to the provincial exchequer will be discussed with Sindh Revenue Board.
The chairman said that some delays in release of refund claims was occurring but a tranche has recently been released on 2nd November. The business community should carefully submit refund claims as many refund claims get delayed if marked deferred by the system.
“FASTER system has been working smoothly yet if anyone faces delays in receiving refunds, they can seek assistance from FBR”, he added.
He also advised all the Chief Commissioners to maintain complete coordination and liaison with the Karachi Chamber so that the grievances being faced by the business community in getting their taxation issues resolved could be minimized. He also promised to resolve the issues being faced by yarn trader period who are not allowed to claim refunds before 14 months while the 7.5 percent difference in duties/ taxes between the commercial and industrial importers of polyester yarn will also be reduced.
Chairman Businessmen Group Zubair Motiwala, Vice Chairman BMG Jawed Bilwani, President KCCI Muhammed Tariq Yousuf, Senior Vice President Touseef Ahmed, Vice President Muhammad Haris Agar, Former Presidents Younus Muhammad Bashir, Iftikhar Ahmed Vohra and Muhammad Idrees, Former President Vice President Muhammad Ibrahim Kasumbi, President Site Association of Industry Riaz Uddin, Member Customs-Operations FBR Mukarram Jha Ansari, Chief Commissioner Dr. Aftab Imam and KCCI Managing Committee along with Senior FBR Officials were also present at the meeting.
READ MORE: FBR issues circular to relax income tax return filing deadline
Chairman BMG Zubair Motiwala, in his remarks, highly appreciated the present team of FBR for its extraordinary efforts in dealing with the FATF issue that resulted in Pakistan’s exit from the grey list. He said, “Things are moving in the positive direction as far as FBR is concerned but there are some issues which have remained chronic since so many years and these were not being addressed by the FBR. All these issues, which are hardly 4 to 5 in numbers, having no major impact on revenue should be resolved at the earliest so that the businesses as well as the economy starts performing.”
He said that the Chapter 84 and 85 have brought the entire work to a complete halt and it was a matter of grave concerns that around 7,000 applications were in KCCI’s possession which have been lying pending only due to delays in approval from the State Bank of Pakistan. Stopping imports of essential raw materials, spare parts and even solar panels was not making any sense which have to be allowed so that the industrial wheels keep on spinning without any interruption.
Zubair Motiwala was of the view that around US$3 to US$4 billion remain parked abroad which people simply don’t want to remit to Pakistan because of the exorbitant taxes on indenting commission hence, these taxes should be waived so that the desperately needed foreign reserves could be brought to Pakistan.
Appreciating FBR’s move to revamp the valuation system, Zubair Motiwala advised to expedite the process with a view to provide some relief to the business community. “As the country faces severe energy crises, the import of solar panels has to be allowed without any hindrances which would be a great service to this nation”, he said, adding that around 650 vehicles which have already been imported and were lying at the ports must also be cleared by lowering the recently imposed 100 percent extra duty at the earliest.
On the occasion, Vice Chairman BMG Jawed Bilwani stated that the FASTER system for refund claims was working absolutely fine after its launch but the business community has now been facing a lot of issues in getting their refund claims issued on time which often creates liquidity problem and needs to be addressed. “As per law, all refund claims must be processed within 72 hours so that the business community could not face any liquidity issues.”
READ MORE: Withholding tax rates on immovable property transactions during 2022-2023
President KCCI Tariq Yousuf, while welcoming Chairman FBR, pointed out that Karachi’s share in GDP was around $165 billion, which was 43 percent of Pakistan’s national economic size & was projected to hit $193 billion in 2025. “Karachi’s role in Pakistan’s economic growth has been phenomenal & is growing at a tremendous pace. However, the ongoing economic issues, high cost of doing business & taxation matters have been affecting the productive capacity of the private sector whose competitiveness has been deteriorating”, he added.
He was of the view that the high amount of tax cost for businesses, particularly the SMEs should be a matter of great concern for policymakers as this has been affecting Pakistan’s growth potential.
While appreciating Chairman BMG Zubair Motiwala for his remarkable job as Chairman of the Anomaly Committee for Business, he said that out of various recommendations agreed by the then finance minister and Chairman FBR along with his team, many issues were still pending which need to urgently resolved with a view to create an enabling environment for sustainable economic growth.
-
Karachi Chamber welcomes Dar’s decisions
Karachi Chamber of Commerce and Industry (KCCI) on Tuesday welcomed the decisions of Finance Minister Ishaq Dar regarding keeping oil prices unchanged, extending return filing date and enhancing threshold for payments of letter of credit.
KCCI President Mohammed Tariq Yousuf appreciated Finance Minister Ishaq Dar’s announcement to keep petroleum prices intact and extent last date for filing Income Tax Return till November 30, 2022.
READ MORE: KCCI demands one month date extension for return filing
He said that the business community warmly welcomed these announcements and the determination being exhibited by government to pay special attention to the issues and recommendations being given the business & industrial community.
Yousuf said that the Finance Minister’s decision to raise the LCs limit from $50,000 to $100,000 was undoubtedly a pro-business move which was being demanded by the Karachi Chamber since long.
READ MORE: Furniture retailers want fixed tax regime
“This would help in expediting 8,000 cases of suspended Letters of Credit (LCs) and we are delighted to see that the State Bank has been directed to start clearing this LCs from today,” he added.
He was of the opinion that the government was trying its best to provide relief to the business and industrial community despite facing severe economic challenges.
READ MORE: KCCI advises importers to manufacture motorcycle spare parts
Thanks to the sincere efforts being made by Finance Minister, Pakistani rupee had one of the strongest performances in Asia in October, rising by 3.3 percent against the dollar. “Effective strategies have to be defined and implemented to bring down dollar below Rs200 level which would provide a huge relief to our economy which is overburdened with foreign debts.”
He further suggested that Fuel Adjustment Surcharge being charged from the industry needs to be rescinded as the same was creating issues for the General Industry and SMEs who were the backbone of country’s economy and need to be protected.
READ MORE: Karachi Chamber urges allowing imports from India
-
KCCI demands one month date extension for return filing
The Karachi Chamber of Commerce and Industry (KCCI) has called upon the Federal Board of Revenue (FBR) to extend the deadline for filing income tax returns, citing economic crises and political instability as the primary reasons for the request.
(more…) -
Furniture retailers want fixed tax regime
KARACHI: Pakistan Furniture Association (PFA) has demanded fixed tax regime for their retail outlets. In this regard the association on Monday asked the Karachi Chamber of Commerce and Industry (KCCI) to raise the issue at higher platform.
Senior Vice Chairman Pakistan Furniture Association (PFA) Rana Waheed Murad, while referring to several discussions and a meeting held on June 22 with the then Finance Minister Miftah Ismail and Chairman Federal Board of Revenue (FBR), stated that it was principally agreed in the said meeting that the furniture retailers will be brought into fixed tax regime but unfortunately, the agreement reached stands unimplemented to date hence, the Karachi Chamber must take up this serious issue with relevant authorities so that furniture shopkeepers could be pulled out of Tier-I retailers category and subjected to fixed tax.
READ MORE: KCCI advises importers to manufacture motorcycle spare parts
Rana Waheed, who led a PFA delegation to KCCI, appreciated Chairman Zubair Motiwala, who, as Chairman of the Anomaly Committee formed by the government after this year’s Federal Budget announcement, effectively advocated PFA’s valid demand and also succeeded in convincing the policymakers to provide relief which was agreed but remains unimplemented.
The situation has crated a lot of problems for businessmen associated with furniture sector who were widely being harassed by FBR officials through unwarranted notices.
READ MORE: KCCI managing committee candidates elected unopposed
President KCCI Muhammad Tariq Yousuf, Vice President Muhammad Haris Agar, Chairman Special Committee for Small Traders Majeed Memon along with KCCI Managing Committee Members and PFA delegation members attended the meeting.
Senior Vice Chairman PFA was of the opinion that furniture industry has great potential to grow and boost exports of the country to US$ 1 billion but placing furniture retailers in Tier-1 category for Sales tax collection has created lot of difficulties for this sector that was terribly affecting business activities.
“We are capable of competing with Turkey, Vietnam and China etc. but will not be able to do so if our issues stand unresolved,” he added and stressed that furniture retailers must be brought under fixed tax regime which would increase the tax revenue for the country and reduce problems being faced by furniture retailers.
READ MORE: APTMA demands immediate release of textile machinery
He also drew KCCI’s attention towards another serious issue as all the imported wood consignments have now been subjected to seeking clearance/ certification from Department of Plant Protection (DPP) which creates a lot of problems in clearing this essential raw material. “We are being asked to get the wood crust removed before shipping as it might carry bacteria but it was technically impossible as without this crust, the wood becomes drier and totally useless within a couple of months,” he explained, adding that furniture sector has witnessed strong growth in exports but it would not last long and start descending soon if such anti-business measures were not promptly reverted.
Rana Waheed, while congratulating the newly elected Office Bearers, hoped that the new team at KCCI would prioritize the issues being faced by furniture shopkeepers and make all out efforts to get them amicably resolved so that this important industry could be saved from getting into further disaster.
READ MORE: Date extension demanded for electricity bills payment
President KCCI Tariq Yousuf, after listening to the grievances being faced by PFA members, assured to take up their Tier-I retailers’ issue and request the government to fulfill its commitment made to the perturbed businessmen from furniture sector.
He advised PFA delegates to also bring any other Customs related or Law & Order related issues to KCCI’s notice so that its relevant subcommittees could promptly get them resolved with a view to minimize the hardships being faced by manufacturers, sellers and exporters of furniture.
-
KCCI advises importers to manufacture motorcycle spare parts
Karachi Chamber of Commerce and Industry (KCCI) has advised importers of motorcycle spare parts to set up industry for manufacturing locally.
KCCI President Mohammad Tariq Yousuf advised the importers of motorcycle spare parts to go for setting up their own cottage industries for manufacturing various spare parts which were currently being imported as it was no more feasible to import these parts because of uncertain situation triggered by unstoppable currency fluctuation.
READ MORE: KCCI managing committee candidates elected unopposed
Exchanging views with a delegation of All Pakistan Motorcycle Spare Parts Importers and Dealers Association (MSPIDA) which was led by its Chairman Nasir Maqbool during visit to KCCI, Tariq Yousuf stressed that setting up small industries for manufacturing spare parts was the only solution to most of the problems being faced by traders including exorbitant customs duty, delays in clearance of consignments, heavy demurrage/ detention losses and high cost of imported goods due to rising dollar value.
“You have to go for import-substitution otherwise, all the issues being faced today would remain as they are in future so you must look into the possibility of becoming independent by setting up small manufacturing units,” he added.
READ MORE: APTMA demands immediate release of textile machinery
Senior Vice President KCCI Touseef Ahmed, Vice President KCCI Muhammad Haris Agar, Chairman KCCI’s Special Committee for Small Traders Majeed Memon, Former President KCCI Iftikhar Ahmed Vohra, Former Chairman MSPIDA Faisal Khalil, KCCI Managing Committee Members and MSPIDA Members also attended the meeting.
Tariq Yousuf assured that the Karachi Chamber, being the actual representative of the entire business and industrial community, was well-aware of the issues being faced by shopkeepers due to rising street crimes and has constantly been pushing the Law Enforcing Agencies to take stringent steps so that they could fearlessly carry out their businesses.
READ MORE: Date extension demanded for electricity bills payment
“Any MSPIDA member, who faces problems in dealing with any law-and-order issues can easily get in touch with KCCI’s Police Chamber Liaison Committee and Law & Order Subcommittee who are working round-the-clock to help out the perturbed shopkeepers, businessmen as well as the industrialists”, he said.
Moreover, all MSPIDA members facing delays in clearance of imported goods can also approach KCCI and we will get in touch with the Customs Authorities and the State Bank of Pakistan so that the imported items could be cleared within the earliest possible time which would save importers from suffering grave losses on account of demurrage and detention charges, assured President KCCI.
He also stressed that the government must look into the possibility of bringing down customs duty of spare parts and rationalize Valuation rulings as these were not supporting the economy but paving way for smuggling and causing losses to the national exchequer.
READ MORE: Power tariff hike termed disaster for industries
Earlier, Chairman PASPIDA Nasir Maqbool, in his short remarks, congratulated the newly elected Office Bearers and hoped that the support and cooperation between the two institutions would strengthen further in the days to come and collective efforts will be made for resolving numerous issues particularly the Customs and Valuation issues being faced by the importers of spare parts.
Speaking on the occasion, Former Chairman PASPIDA, while agreeing with President KCCI’s viewpoint about import-substitution, stated that although many importers of spare parts have established small manufacturing units so that they could locally manufacture various imported items but the raw material required for manufacturing these spare parts has also been blocked under Customs Tariff Section 84 and 85 which needs attention.
He said that exorbitant customs duty of 35 percent along with 11 percent additional duty, high GST and other levies were having an overall impact of around 90 percent on the cost of imported spare parts of motorcycles, making this important mode of travelling costlier and beyond the reach of poor segment of society.
“We request KCCI to take up this important issue with relevant policymakers in Islamabad so that the customs duty and other taxes could be drastically reduced which would not only save relevant businesses but also prove favorable for the economy by discouraging widespread smuggling of spare parts”, he added.
-
FBR advised to extend tax return filing date for three months
KARACHI: The Federal Board of Revenue (FBR) has been advised to extend the last date for filing income tax returns at least for next three months.
Muhammad Idrees, President, Karachi Chamber of Commerce and Industry (KCCI) in a letter sent to the Finance Minister on Monday requested to issue to the FBR for extension in last date for filing income tax returns from September 30, 2022 to December 31, 2022 keeping in view the unusual situation emerging all over the country due to recent rainfalls and flash floods.
READ MORE: PTBA suggests measures to resolve refund adjustment ahead return filing deadline
KCCI President stated that the chamber was constantly being approached by the members of the business and industrial community and also by the people belonging to different walks of life who wanted the last date to be extended till December 31.
READ MORE: Penalties for failure to file return tax year 2022 within due date
“Due imposition of ban on imports which was followed by unusual situation all over the country emerging after torrential rainfalls and flashfloods, the taxpayers, particularly the members of the business & industrial community, are facing a lot of problems as a large portion of receivables from various parts of the country badly hit by floods are still pending,” he said, adding that it was a well-known fact that the business, commercial, agricultural and all other activities in the flood-hit areas have come to a total halt which has created serious cashflow issues and it will take at least two more months to return to normalcy.
READ MORE: FBR fails to remove return filing glitches; KTBA seeks legal time
In this scenario, it has become inevitable to provide relief to loyal taxpayers in shape of extension in last date hence, keeping in view the ground realities, he requested the Finance Minister to order FBR to extend the last date for filing income returns to December 31, 2022 which will be widely welcomed by the loyal taxpayers from all over the country.
READ MORE: FBR advised to fix glitches for smooth filing of income tax returns