ICCI demands extension in last date for filing of tax returns

The Islamabad Chamber of Commerce and Industry (ICCI) has called upon the government to extend the last date for filing of income tax returns 2021 at least for six months considering the difficulties created by the Covid-19 pandemic that would facilitate the maximum number of eligible taxpayers to discharge this national obligation with ease and would also help in improving the tax revenue of the country.

Sardar Yasir Ilyas Khan, President, Islamabad Chamber of Commerce and Industry said that the Federal Board of Revenue has set September 30, 2021 as the last date for the filing of income tax returns 2021. However, he said that the Covid-19 pandemic has badly affected the business activities across the country due to smart lockdowns and restrictions on business timings. Therefore, it is very difficult for the members of the business community to make tax related calculations as many businesses remain closed for long durations while many are still closed. He said this situation necessitated that FBR should cooperate with the business community in these tough times and give them extension for at least six months so that they could prepare and file their income tax returns without any pressure or trouble.

Sardar Yasir Ilyas Khan said that some tax experts have also highlighted issues of miscalculation of taxes in the specified formulas during filing of tax returns. Therefore, it is important that FBR should extend the deadline for six months and address such issues up to the satisfaction of tax filers.

Fatma Azim, Senior Vice President and Abdul Rehman Khan, Vice President ICCI said that keeping in view the problems caused by Covid-19 pandemic, FBR should seriously consider allowing the business community to pay income tax for the year 2021 in easy installments that would help them to discharge tax obligations with ease.