Filing tax returns: FBR says notices will be issued over non-compliance
Deadline has already been extended to September 30
Deadline has already been extended to September 30. ILLUSTRATION: JAMAL KHURSHID
ISLAMABAD:
Warning the public about the repercussions of not filing tax returns, the Federal Board of Revenue (FBR) has said that it will be issuing notices to all those who fail to comply by the deadline of September 30.
In a bid to enhance the tax filer base, the FBR has already extended its last date of submission of tax returns for salaried persons from August 31 to September 30. The deadline to file tax returns for the non-salaried persons would remain the same (September 30), said FBR spokesman Shahid Hussain Asad here on Friday.
Asad said that the FBR’s administrative reforms were gradually leading to improvement in the tax structure and revenue collection.
The reforms, he said, would continue to address the issue of tax compliance and administration.
Asad, who is also a member of Inland and Revenue, said the FBR was devising a simplified way for the new taxpayers, in order to facilitate them in filing their tax returns.
The FBR spokesman said that the government has directed all chief commissioners of regional tax office to accelerate efforts for broadening the tax base.
“The FBR would bring non-filers into the tax net and document the national economy. The government is firm in its resolve to charge withholding tax at the rate of 0.3% till September 30 from non-filers.
“We want to take all stakeholders onboard on the issue of withholding tax and they have also agreed to resolve the issue with consensus through negotiation,” Asad said.
He said the process of dialogue would restart in the coming days and more meetings are expected between the government and the business community to resolve the issue of withholding tax.
Replying to a question, Asad said the FBR had collected Rs140 billion in revenues during the first month of current fiscal year 2015-16 which was 6% higher as compared to the same period of the previous year.
Published in The Express Tribune, September 12th, 2015.
Warning the public about the repercussions of not filing tax returns, the Federal Board of Revenue (FBR) has said that it will be issuing notices to all those who fail to comply by the deadline of September 30.
In a bid to enhance the tax filer base, the FBR has already extended its last date of submission of tax returns for salaried persons from August 31 to September 30. The deadline to file tax returns for the non-salaried persons would remain the same (September 30), said FBR spokesman Shahid Hussain Asad here on Friday.
Asad said that the FBR’s administrative reforms were gradually leading to improvement in the tax structure and revenue collection.
The reforms, he said, would continue to address the issue of tax compliance and administration.
Asad, who is also a member of Inland and Revenue, said the FBR was devising a simplified way for the new taxpayers, in order to facilitate them in filing their tax returns.
The FBR spokesman said that the government has directed all chief commissioners of regional tax office to accelerate efforts for broadening the tax base.
“The FBR would bring non-filers into the tax net and document the national economy. The government is firm in its resolve to charge withholding tax at the rate of 0.3% till September 30 from non-filers.
“We want to take all stakeholders onboard on the issue of withholding tax and they have also agreed to resolve the issue with consensus through negotiation,” Asad said.
He said the process of dialogue would restart in the coming days and more meetings are expected between the government and the business community to resolve the issue of withholding tax.
Replying to a question, Asad said the FBR had collected Rs140 billion in revenues during the first month of current fiscal year 2015-16 which was 6% higher as compared to the same period of the previous year.
Published in The Express Tribune, September 12th, 2015.