Karachi: The President of the Karachi Chamber of Commerce and Industry (KCCI) Iftikhar Ahmed Sheikh has called on the Federal Board of Revenue (FBR) to extend the deadline for filing income tax returns by one month. The news was reported on September 26 by an official news source.
As per details, he emphasised that this extension would enable more taxpayers to meet their filing obligations. In a statement issued on Wednesday, Sheikh explained that many members of the business community were unable to complete the necessary documentation for submitting their returns by the current deadline of September 30, 2024. This, he noted, was due to the involvement of numerous trade bodies and chambers of commerce in election activities throughout September, leaving them with insufficient time to finalise tax documentation.
Sheikh urged the FBR to extend the deadline to October 31, 2024 to accommodate these delays. He also highlighted technical issues faced by the KCCI members when using the IRIS portal for filing returns and updating their data. According to Sheikh, many taxpayers encountered difficulties navigating the system, which hindered timely submission.
He stressed the importance of enhancing the capacity and user-friendliness of the IRIS system, suggesting that it should be simplified to allow taxpayers to file returns independently, without the need for external tax consultants. “The current system increases costs for businesses by requiring additional expenditure on consultants,” Sheikh added. The KCCI president reiterated the need for urgent action from the FBR to ensure that businesses can meet their tax obligations without unnecessary hurdles.
