KARACHI, June 5: The business has asked the Central Board of Revenue (CBR) to simplify the new income tax returns form which is too complicated and cumbersome to fill and above all does not meet the conditions of Self-Assessment Scheme (SAS).

This was the outcome of a joint meeting of the working groups on taxation of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and the Karachi Chamber of Commerce and Industry (KCCI) held at Federation House on Thursday.

The meeting was specially convened by the chairman of the FPCCI’s committee on taxation and former president of the KCCI Amjad Rafi to discuss and deliberate the new tax return forms issued by the CBR recently.

The meeting, which was also attended by tax experts and members of the Income Tax Bar Association, Karachi, Institute of Chartered Accountants of Pakistan (ICAP) were of unanimous view that the new tax return forms issued by the CBR for filing of returns for the assessment year 2003-2004, are complicated and need to be simplified.

However, the FPCCI has called another meeting on June 21, 2003 to discuss the matter on all Pakistan basis where all leading chambers and trade association are invited to give detailed analysis on the new tax return forms.

In the meantime, the chairman FPCCI’s committee on taxation, Amjad Rafi told Dawn that a representation has been sent to the finance minister, chairman, CBR and member direct taxes requesting them to extend the last date of June 15, 2003, by another 15 days for soliciting comments and suggestion as well as making the new tax return forms part of the official gazette.

The Karachi chamber was represented by its president Nasir Hayatt Maggo, chairman, KCCI taxation committee, Saaqib Naseem and from FPCCI the chairman, taxation committee, Amjad Rafi and vice chairman, Asif Aziz Balagamwala. President Institute of Chartered Accountants of Pakistan Khaliq-ul-Rehman and the tax bar president Iqbal Salman Pasha represented their respective organizations.