KARACHI: Pakistan Tax Bar Association (PTBA) has urged the Federal Board of Revenue (FBR) to extend the date for filing of tax returns up to Nov 30.

In support of their demand, the PTBA pointed out that long delays were made in making amendments before and after the introduction of Income Tax Return and Wealth Statement forms 2017.

The finalised tax and wealth forms were uploaded on the web-portal on Sept 28 against the original deadline of Aug 31 for filing of tax returns.

Similarly, the final notification (SRO) in respect of corporate tax return for the tax year 2017 was also issued very late on Sept 28, which was also due to be e-filed in the same month. Therefore, the last date was extended to Oct 31.

The PTBA felt that even the Oct 31 deadline would not be met particularly because certain legal clarifications, such as, calculation of tax liability in respect of profit or yield on ‘Behbood Saving Certificate and Pensioners’ Benefit Accounts’ are still pending before the FBR.

Published in Dawn, October 28th, 2017