Islamabad, September 2024 — The Pakistan Tax Advisors Association (PTAA) has called upon the Federal Board of Revenue (FBR) to extend the deadline for filing income tax returns and wealth statements for the tax year 2024 from September 30 to November 30.
In a formal letter addressed to the FBR Chairman, the association raised several critical concerns, emphasizing the pressing need for additional time due to ongoing challenges faced by taxpayers and tax practitioners alike.
The tax advisors cited several underlying issues as justifications for the extension. One of the primary factors is the ongoing economic crisis and financial instability in the country, which has made it difficult for taxpayers to gather necessary resources for filing their returns on time. Coupled with this, the inefficiency and frequent malfunctions of the FBR’s IRIS have exacerbated delays in return preparation and submission.
In the letter, the tax advisors noted, “The slow functioning of the IRIS system has become a persistent bottleneck, with many taxpayers and tax professionals struggling to access the platform effectively. Load shedding and electricity outages in different regions have only added to the difficulties.” They further stressed that these combined challenges, along with the heavy burden on tax practitioners, advocates, and chartered accountants, make it impossible to meet the current September 30 deadline.
The association also pointed out that the sheer volume of tax returns required to be filed necessitates significant time for preparation. The complexities involved in completing and submitting tax returns, combined with the tax payment process through Computerized Payment Receipts (CPRNS) in banks, require more time than what the current deadline allows.
“The burden on tax practitioners is immense, as they are managing a high volume of returns for their clients under these challenging circumstances,” the PTAA added. Many members from across the country have reached out to the association, voicing their concerns and requesting the FBR to provide relief by extending the deadline.
The tax advisors concluded their appeal by underscoring the importance of meeting the financial targets set by the FBR. They argued that an extension would not only alleviate the pressure on taxpayers and practitioners but also ensure compliance on a larger scale. “By granting an extension to November 30, the FBR will facilitate both taxpayers and tax practitioners, enabling them to file returns without undue stress, while also securing the government’s revenue goals.”
It remains to be seen whether the FBR will respond to this request, but the PTAA’s call has undoubtedly raised awareness of the critical need for flexibility in light of the current economic and operational constraints.
