Traders seek extension in tax return filing date

KCCI chief requests govt to extend deadline up to January 31, 2021

Businessmen have demanded an extension in the income tax return filing date to facilitate those who have been late in paying duty due to constraints caused by the lockdown imposed to contain the spread of Covid-19.

Karachi Chamber of Commerce and Industry (KCCI) President M Shariq Vohra requested the government to extend the last date for filing income tax returns up to January 31, 2021 as many taxpayers had not been able to file returns on time due to the pandemic.

“We have written a letter to Prime Minister Imran Khan in which it has been pointed out that the entire nation including taxpayers had been hit hard by the first wave of Covid-19 and now the second wave has gripped the masses, which is a serious threat to the life of everyone,” he said.

“Hence, the Federal Board of Revenue (FBR) should be directed to extend the last date for filing income tax returns up to January 31, 2021, which will be widely appreciated by the business community.”

Union of Small and Medium Enterprises (UNISAME) President Zulfikar Thaver also urged the FBR to extend the last date for filing income tax returns up to January 31, 2021 to facilitate and accommodate the businessmen who had not been able to file the return due to Covid-19, delayed amendments and recent notification about simplified forms.

While appreciating the instructions given by the FBR to its commissioners to grant extensions to hardship cases who were unable to file returns on time, Thaver said, “We nevertheless urge the FBR chairman not to leave the tax return filers at the mercy of commissioners and extend the date properly to save SMEs and big entrepreneurs.”

He stressed that it would be wise for the FBR to extend the date further from December 8, 2020 to January 31, 2021 in the interest of better collection as it would attract more returns because under the prevailing circumstances a good number of entrepreneurs had not been able to file their returns.

Published in The Express Tribune, December 8^th, 2020.

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