FEBR DEMANDS EXTENSION IN INCOME TAX RETURN FILING DATE BY ONE MONTH

FEBR DEMANDS EXTENSION IN INCOME TAX RETURN FILING DATE BY ONE MONTH
BusinessLIKE
LAHORE
The Friends of Economic and Business Reforms (FEBR) has urged the Ministry of Finance and Federal Board of Revenue (FBR) to extend the date for the filing of income tax return for the year of 2019 by at least one month, as the Federal Board of Revenue’s IRIS software is causing problems in processing of income tax returns, which need to be updated.
FEBR President Kashif Anwar said that the date of submission of income tax returns should be extended to October 31, 2019 until the streamlining of the working of IRIS software.
In a statement issued here, the FEBR President said that business community always wants to perform its national obligations but due to problems in FBR IRIS system, a large number of businessmen could not file their returns within the given timeframe. Moreover, because of Hajj and Muharram holidays, a large number of tax filers were not in Pakistan and performing Hajj.
He added that tragic incident of earthquake, which has jolted a vast area of Azad Kashmir and several parts of the country should also be kept in mind. He said that businessmen are very upset because of uncertainty in the country.
Kashif Anwar said that extension in the date for the filing of tax returns will not only be a great favor to the business community but it will also benefit the government.
He said that extension in the date for the filing of income tax returns will help government to achieve its revenue target besides trust building of the private sector.
He said that an extension in the date of filing of income tax returns would not only facilitate the business community but it would also send a very positive signal about private-public sector liaison.
“Extension in the date for the filing of income tax return till Oct 31 will give a good message that government honors the business community”, he added.