KARACHI: The Pakistan Tax Bar Association (PTBA) has called on the government to extend the tax return filing deadline to October 25, 2024, following a significant announcement to abolish the non-filer status in the country.
According to the PTBA, the government’s decision to eliminate the non-filer category comes after persistent advocacy from the PTBA, who argue that such a status has no legal basis. It said that this move is expected to bolster confidence among existing tax filers and encourage compliance from those previously outside the tax net. “This initiative will increase tax revenue and improve Pakistan’s overall tax system,” a PTBA stated. “It brings us in line with other strong economies where the concept of ‘non-filer’ doesn’t exist.”
The association emphasised that this change will have far-reaching consequences for those who have avoided filing taxes. Non-filers will now face restrictions on property purchases and opening bank accounts, compelling them to enter the formal tax system.
PTBA stressed the importance of efficient tax collection and utilization, stating that tax money should be directed towards essential sectors such as health, education, transport, and infrastructure. They believed this approach would help reduce inflation and the tax burden on citizens over time.
While commending the government’s decision, the PTBA has requested an extension of the tax return filing deadline from September 30 to October 25. They argued that this extension would provide a final opportunity for non-filers to comply with the new regulations and contribute to the national economy.
Copyright Business Recorder, 2024
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