Trade bodies seek extension of tax return deadline after heavy filing

Dawn reports that trade bodies and professionals are requesting an extension of the statutory September 30 deadline for filing tax returns. They cite delays in the issuance of return forms and heavy online traffic as major hurdles.

The demand has been raised by bodies including the Federation of Pakistan Chambers of Commerce and Industry and the Islamabad Chamber of Commerce and Industry. The Federal Board of Revenue reported 5.181 million returns had been filed by September 29.

Historically, the deadline has been extended two to three times, often until October. The last budget substantially increased penalties for late filing.

The Karachi Tax Bar Association has also submitted a letter to the Member Inland Revenue, highlighting issues such as draft notification delays and persistent technical glitches.