Karachi: Investors seek delay in tax return Filing Date.

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Business community have demanded an extent in the tax return filing date to assist in to those who have been late in paying duty and taxes because of restraints triggered by the lockdown imposed to contain the spread of Pandemic Covid-19.

Karachi Chamber of Commerce and Industry (KCCI) Head Mr. M. Shariq Vohra asked the Federal Government to expand the income tax return filing date up to January 31, 2021 as many taxpayers had not been capable to declare returns on schedule because of the pandemic.

“We have actually forwarded a letter to Premier Imran Khan in which it has been explained that the entire country including taxpayers had been struck hard by the very first wave of Covid-19 and also currently the second wave has gripped the masses, which is a serious hazard to the life of every person,” he claimed.

“For the reason, the Federal Board of Revenue (FBR) must be told to expand the last date for declaring income tax returns until January 31, 2021, which will certainly be hugely appraised by the business owners.”

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Union of Small and Medium Enterprises (UNISAME) President Zulfikar Thaver additionally advised the FBR to prolong the last day for filing income tax returns up to January 31, 2021 to facilitate and also cooperate with the businessmen that had not been able to file the return as a result of Covid-19, delayed modifications as well as recent notification concerning clarified forms.

Whilst admiring the guidelines provided by the FBR to its commissioners to give extensions to suffering cases who were unable to submit returns promptly. Thaver claimed, “We advise the FBR chairman not to leave the income tax return filers at the grace of commissioners and expand the date properly to conserve SMEs and also major business owners.”

He emphasized that it would be wise for the FBR to expand the date further from December 8, 2020 to January 31, 2021 for better collection as it would draw in a lot more returns because under the dominating scenarios an excellent number of entrepreneurs had actually not had the ability to submit their returns.

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