Businesses seek Oct 31 extension for returns

LCCI urges PM, FinMin to consider flood disruptions, technical glitches and risk of penalties for taxpayers

LAHORE:

The Lahore Chamber of Commerce and Industry (LCCI) has urged the government to extend the deadline for filing income tax returns till October 31 to facilitate the business community in fulfilling their obligations.

In a statement issued on Monday, LCCI President Mian Abuzar Shad, Senior Vice President Engineer Khalid Usman and Vice President Shahid Nazir Chaudhry appealed to Prime Minister Shehbaz Sharif, Finance Minister Muhammad Aurangzeb and Federal Board of Revenue (FBR) Chairman Rashid Langrial to announce the extension.

They said that due to devastating floods in many parts of the country and several other pressing issues, a large number of taxpayers will be unable to meet the current deadline of September 30. Adequate time, they stressed, must be given to the business community to complete the filing process. The LCCI leaders added that the FBR's online filing system is under heavy load, causing delays and difficulties for genuine taxpayers.

"The business community is the backbone of Pakistan's economy, and the government should adopt a more flexible and facilitative approach in its policies," the statement read.

They warned that without an extension, many honest taxpayers could face penalties and legal complications for delays beyond their control.

The LCCI office-bearers urged the prime minister, the finance minister, and the FBR chairman to immediately extend the deadline to October 31. Such a step, they said, would provide much-needed relief to traders and industrialists while ensuring higher compliance in tax filing.