FBR survey: Businesses find it difficult to file GST returns compared to IT returns
ISLAMABAD: A survey of the business community conducted by the Federal Board of Revenue (FBR) revealed that businesses find it more difficult to file sales tax returns as compared to income tax returns.
According to the survey results released by the FBR on Friday, among filers of sales tax returns, 53 percent of businesses found this to be moderate to complete while 26 percent it was easy and five percent very easy.
This means that businesses find it more difficult to file sales tax returns relative to income tax returns.
Further, simplification in the filing of sales tax returns is thus suggested, the survey added.
The survey also explored whether businesses have sought extensions for submitting the tax return form under section 119. Of the 516 businesses surveyed, 74 businesses (14 per cent) stated that they had ever sought an extension – mostly public and private limited companies (and to a lesser extent, AOPs). These businesses were asked about their experience in regard to seeking an extension. They were given feedback options which would best describe their experience and it was observed that the responses were generally positive. Out of the 74 businesses, 34 indicated that in response to their request for an extension they found the FBR to responsive and another 17 stated that the FBR was fair. There were only a few businesses which had a negative experience in seeking this extension, the FBR survey added.
Copyright Business Recorder, 2023
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