LCCI seeks extension in income tax return filing deadline

LAHORE: The President of the Lahore Chamber of Commerce & Industry, Faheem-ur-Rehman Saigol, has urged the Federal Board of Revenue (FBR) and the federal government to extend the deadline for filing income tax returns for Tax Year 2026 from September 30 to at least October 31, saying that the additional time would facilitate taxpayers and encourage maximum compliance.

The LCCI president said in a statement on Tuesday that the business community was facing an unusually challenging operating environment, with domestic businesses dealing with high operating costs while international trade and economic conditions remained uncertain.

Global trade is also facing significant challenges due to geopolitical tensions, changing tariff regimes and disruptions in international supply chains.

The WTO has recently warned that increasing fragmentation of the global trading system could have serious economic consequences, making it essential for countries like Pakistan to strengthen the competitiveness of their businesses and facilitate legitimate taxpayers.

He said the government’s objective should be to broaden the tax base and promote voluntary compliance rather than create unnecessary difficulties for taxpayers who want to fulfil their legal obligations.

Copyright Business Recorder, 2026