Tax returns: Businessmen oppose new tax rules

Taxpayers will have less than 12 days to file returns, which was not practically possible, says FPCCI president

KARACHI:

Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Zakaria Usman has opposed the imposition of new rules for filing tax returns until December and called for extending the last date for filing income tax returns to the end of the year.

In a statement, Usman said the Federal Board of Revenue (FBR) had just finalised the return form for tax year 2013 and taxpayers would have less than 12 days to file returns, which was not practically possible.

He recalled that in the past the FBR had introduced new tax return forms many times, but it had to take them back because of its failure to take the business community into confidence.

Commenting on the persisting political deadlock, Usman said the uncertainty was ruining the economy and had damaged Pakistan’s image internationally. Furthermore, he said industrial production in Punjab had been widely disrupted by severe power outages.

Published in The Express Tribune, September 19^th, 2014.

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