Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has approached Prime Minister Imran Khan for the grant of extension in date for income tax returns for the tax year 2020.
The last date for filing income tax returns is December 08, 2020. However, the Federal Board of Revenue (FBR) has categorically rejected extending the deadline with the argument that it had already provided statutory time to taxpayers for making compliance.
On the other hand, taxpayers, tax practitioners, consultants, and the business community are of the view that they are facing difficulties such as calculation errors on the IRIS portal. Besides, the working environment is not friendly due to the spread of coronavirus.
In this regard, President FPCCI, Mian Anjum Nisar, and Vice President, Sheikh Sultan Rehman, have urged the Advisor to the Prime Minister on Finance, Dr. Abdul Hafeez Shaikh, and FBR Chairman, Muhammad Javed Ghani, to extend the deadline for filing Annual Income Tax Returns from December 08, 2020, to February 15, 2021.
President FPCCI said that a large number of business community members have not been able to file their tax returns, mainly due to the effects of COVID-19 on the whole of the working environment. He further added that the second wave, which is more severe and requires strict observation of SoPs, has also significantly disturbed business activities all over the country.
Furthermore, he added that the recent surge in COVID-19 has slowed down the usual economic and commercial activities.
He further informed that there are also some discrepancies, currently faced by the filers, in the filing of Income Tax Return when a taxpayer is requested to file two types of returns relating to partnerships/importers and suppliers.
President FPCCI, Mian Anjum Nisar, and other office-bearers of the FPCCI have requested an extension in the deadline till February 15, 2021, as huge returns are pending for submission due to certain discrepancies while filling the returns, political situation, and the rise in COVID-19 cases all over the country.