Lahore: The deadline to file income tax returns expires today at midnight. To help assist people in filing their tax returns, the Federal Board of Revenue (FBR) has instructed staff in all of its Custom Field Offices to work till midnight (1st January).
Furthermore, the revenue board has also directed the Customs Chief Collector to collaborate with the State Bank of Pakistan to ensure that the tax submissions are carried out the same day. The FBR has given several extensions in the past to help facilitate people in filing their income tax returns for the year. However, demands for similar extensions are still being put forth.
The Pakistan Tax Bar Association (PTBA) has urged the Federal Board of Revenue (FBR) to extend the deadline for filing returns to January 31, 2020.
In related news, the PTBA President Aftab Hussain Nagra appreciated FBR’s efforts in ensuring that tax returns are filed, but also urged FBR to extend the deadline. He said that system capability limits the number of returns that can be filed daily. Additionally, he noted that traders are still waiting for the fixed tax regime under section 99B and 99C of the Income Tax Ordinance, 2001 to file their respective returns.
Similarly, a number of taxpayers deposited their tax challans for amnesty declaration under the 2019 scheme, but could not file their declarations. They shall be required to revise their wealth statements for 2018 in order to file returns along with wealth statement for the tax year 2019 after the procedure is described by the FBR. Therefore, these people requested another deadline extension as well.
