FCCI demands extension in return filing date

Laments govt paid no heed to budget proposals of businessmen

FAISALABAD: Faisalabad Chamber of Commerce and Industry (FCCI) President Rana Sikandar Azam has demanded that the date for filing sales tax returns for the month of May and assets declarations may be extended in view of the coronavirus-related lockdown.

Speaking in a meeting of the FCCI Standing Committee on Taxation, Azam said the last date for filing sales tax returns for May 2020 may be extended up to June 30. Similarly, the assets declaration date may be extended from June 30 to September 30.

He said the government had paid no heed to budget proposals of the business community.

Citing the All Pakistan Chamber Presidents' Conference, he pointed out that 57 chambers from all over Pakistan had demanded the restoration of zero-rating regime for the five major export sectors.

He said the government claimed that no new tax had been proposed in the new federal budget but it enhanced tax collection target by Rs1,400 billion. He was of the view that the new tax target would be met from the existing taxpayers.

The business community had been stressing for the past many years to widen the tax net instead of putting additional burden on the existing taxpayers, he pointed out.

Azam stressed that every income-generating person must have the National Tax Number (NTN). Similarly, the commercial electricity meter holders should be directed to file tax returns or their connections would be cut off.

Speaking on the occasion, former FCCI president Rizwan Ashraf said the government should fix a realistic target for tax collection, adding that businesses had remained suspended for the last three months and there was no chance of restoring full activities of the export sector over the next many months.

He demanded that the government waive taxes for the lockdown period and criticised the government for clamping a ban on the export of non-woven face masks.

He said Pakistani exporters had a large number of export orders but the government banned the export of that product through which millions of dollars could be earned. 

Published in The Express Tribune, June 27^th, 2020.

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