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ISLAMABAD: Keeping in view presentations of the tax bars/chambers/trade associations, the Federal Board of Revenue (FBR) is seriously discussing a possible extension in the filing of the income tax returns for the Tax Year 2022.

On Thursday, the FBR Chief Inland Revenue (Operations), Arshad Nawaz Cheema, told the meeting of the advisory committee at the Federal Tax Ombudsman (FTO) Headquarters that the FBR is discussing the extension at the Board’s level, but a final decision has yet to be taken, he informed the meeting.

During the meeting at the FTO Office, the FBR Chief Inland Revenue (Operations) was responding to the queries of the FTO’s advisory committee members on the complicated income tax return form for the Tax Year 2022.

A number of chambers and associations have approached the FBR seeking an extension in the filing of tax returns including Karachi Chamber of Commerce and Industry (KCCI), Faisalabad Tax Bar Association, Faisalabad Chamber of Commerce and Industry, and Multan Tax Bar Association.

In a communication to the Ministry of Finance, the KCCI has requested the government to issue directives to the FBR for an extension, from the current deadline of September 30, 2022, to December 31, 2022, for filing income tax returns.

Tax return form in IRIS: FBR enables refund adjustment tab

According to a letter of the Rawalpindi Chamber of Commerce and Industry (RCCI) to the FBR Chairman on Thursday, the chamber has received a number of requests of the business community for an extension in date for filing of the income tax return as their businesses are badly affected due to recent floods in the country. It IS requested to extend the return filing date upto October 31, 2022, RCCI added.

The tax return form provided by the FBR contains discrepancies and errors. Above all, the floods have broken the backs of SMEs which are simply not able to file tax returns as they are burdened with resetting themselves after the floods, it said.

The KCCI was constantly being approached by members of the business and industrial community, and also by people from different walks of life, who want the date to be extended till December 31, 2022.

Multan Tax Bar Association has also requested an extension in the filing of returns up to December 31, 2022 keeping in view floods, late issuance of manual income tax returns forms for the individuals and the AoPs, and ambiguity in the declaration of value of properties and other issues.

Faisalabad Tax Bar Association and Faisalabad Chamber of Commerce have also requested an extension in the time period for filing returns.

During the current monsoon season, rains and flooding across the country have caused unprecedented loss to human life, businesses, agriculture, and livestock. This has not only affected the industry and business but also overall economic activities in the country.

The whole month of August and September 2022 was wasted in the adjustment of the system and development of its smoothness creating a further lapse of one month and even now the working of the IRIS was not smooth, the Faisalabad Tax Bar Association said.


Also read:

Copyright Business Recorder, 2022

Comments

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Raza Hemani Sep 30, 2022 10:24am
FBR not to extend the date of filling of return without assigning penalty. And if they do extend and don't impose penalty means all those who act responsibly and submits return in time looks like people in fools paradise. Giving extension means encouraging tax filler to delay submission of return. All those who have put in effort to submitted returns in time looks stupid. This is what has been happening for the past many decades.
thumb_up Recommended (0)
MUHAMMAD AZAM Sep 30, 2022 11:06am
ALL COUNTRIES EXTEND THE DATE WHEN MAKE PROBLEMS SERIOUS. F B R EXTEND THE DATE TO FACILITATE THE PEOPLES WHO ARE IN TROUBLE. BUSINESS CRISES DUE TO FLOODS IN CRISES. IN MY OPINION NO PENALTY IMPOSE ON THE PEOPLES FOR FILLING OF INCOME TAX RETURNS. IF BROADLY THINKING THE SITUATION IN OUR COUNTRY. F B R MUST EXTEND THE DATE TILL 31.10.2022.
thumb_up Recommended (0)
MUHAMMAD AZAM Sep 30, 2022 11:12am
If F B R required filling of income tax reruns in time, Please correct the system , fast & reliable.
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MUHAMMAD AZAM Sep 30, 2022 11:14am
@Raza Hemani , APP KA KOI NIQSAN NAHI HOWA NA. FLOOD TO HAR CHEESE KO BARBAD KARGIA HY.
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MA Sep 30, 2022 12:10pm
@Raza Hemani , This is Pakistan. Rules are made to be broken........
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M. Aleem Qureshi Sep 30, 2022 08:38pm
Well... In my opinion; FBR, already increasing its revenue significantly by giving more time to late return filers in the form of surcharge and it may further increase if FBR refuses to give extension....
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Khawar Hamid Sep 30, 2022 11:21pm
Thanks FBR for return filling date extension to 31 oct 2022.
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