KCCI chief for extension in deadline for filing tax returns

KARACHI: President of Karachi Chamber of Commerce and Industry (KCCI) Muhammad Idrees has requested the finance minister to issue directives to the Federal Board of Revenue (FBR) to extend the last date for filing income tax returns from September 30, 2022 to December 31, 2022, keeping in view the unusual situation emerging due to recent rains and floods.

In a letter sent to finance minister, president KCCI stated that the Karachi chamber was constantly being approached by members of the business and industrial community and also by the people belonging to different walks of life who wanted the last date to be extended till December 31.

“Due to imposition of ban on imports which was followed by unusual situation all over the country emerging after torrential rainfalls and flash floods, the taxpayers, particularly the members of the business and industrial community, are facing a lot of problems as a large portion of receivables from various parts of the country badly hit by floods are still pending”, he said, adding that it was a well-known fact that the business, commercial, agricultural and all other activities in the flood-hit areas have come to a total halt which has created serious cash flow issues and it will take at least two more months to return to normalcy.

In this scenario, it has become inevitable to provide relief to loyal taxpayers in shape of extension in last date hence, keeping in view the ground realities, he requested the finance minister to direct the FBR to extend the last date for filing income returns to December 31, 2022 which will be widely welcomed by the taxpayers from all over the country.

Copyright Business Recorder, 2022