KARACHI: The Karachi Tax Bar Association (KTBA) has urged the Federal Board of Revenue (FBR) to extend the deadline for filing tax returns to Sept 30 as taxpayers are facing difficulties due to malfunctioning of the integrated risk information system (IRIS).
In a letter to FBR’s chairman, KTBA President Syed Rehan Hasan Jafri also raised the issue of long delay in finalisation and uploading of final draft in respect of tax returns on FBR’s e-portal.
The KTBA pointed out that initial draft in respect of tax returns 2016 (SRO 756(I)/2016 dated Aug 11) was published for feedback and suggestions with a deadline of Aug 25.
However, the final draft of tax returns 2016 was uploaded on FBR’s e-portal on Aug 26, which made it impossible for taxpayers and tax consultants to meet the Aug 31 deadline for filing tax returns and statements because of limited period of five working days.
He also pointed out that the prescribed time granted under the law (Income Tax Ordinance of 2001) for filing tax returns and wealth statement forms for taxpayers falling under final tax regime (FTR) and salaried class is Aug 31, ie two months from the date (July 1) when tax returns become due.
Similarly, for business and individuals and non-FTR returns, the prescribed time available under the statute is three months, ie Sept 30, every year.