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FBR asked to extend returns’ filing date till Feb 29

FBR asked to extend returns’ filing date till Feb 29

KARACHI: The Karachi Tax Bar Association (KTBA) has requested the Federal Board of Revenue (FBR) to further extend the time for filing the returns of income for till February 2016.

In the letter by Karachi Tax Bar Association, it is stated that Voluntary Tax Compliance Scheme (VTCS) has been passed by the National Assembly and the assent of the President is awaited and it is hoped that it will become a part of the statute accordingly.

Considering this aspect of the matter, the taxpayers are reluctant to file their returns / statements and eagerly waiting to avail the benefits attached with the said scheme. The fact that the taxpayers facing problems while filing the returns / statements on IRIS, as the technical problems and frequent stoppage of the said system have not been resolved fully, which is also making it difficult to file the returns / statements easily.

In the letter written to FBR Chairman Nisar Muhammad Khan, the Association has requested to further extend the date for filing the returns / statements till February 29 2016 so that all the taxpayers and tax practitioners would be able to file all the returns / statements in the extended time and could avail the benefits attached with the tax compliance scheme.