ICCI for extending deadline of filing tax returns

Islamabad Chamber of Commerce and Industry on Monday urged the Federal Board of Revenue (FBR) to extend the deadline of September 30, 2015 for e-filing of income tax returns up to October 31 to facilitate the taxpayers.

“Many taxpayers are out of the country for performing Hajj and were unable to file tax returns on time,” ICCI President Muzzamil Hussain Sabri said in a statement here. He said due to Eidul Azha holidays, a large number of taxpayers were also facing problems in filing of income tax returns by September 30. He said these constraints call for extension in last date for filing of tax returns and FBR should extend the deadline so that business community and taxpayers could feel facilitated in filing of income tax returns.

He said FBR should also seriously consider extending reduced rate of 0.3 per cent withholding tax on banking transactions of non-filers up to October 31 as due to Eidul Azha holidays, it was difficult for them to pay enhanced rate of 0.6 per cent withholding tax after September 30. The ICCI president said that the current English version e-forms of income, sales and withholding tax were very lengthy and complicated due to which it was a tough task for a common taxpayer to understand and fill these forms.

He stressed that FBR should develop all e-forms of tax returns in Urdu language and make them very simple and easy so that majority of taxpayers could easily e-file their tax returns.

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