FBR requested to extend deadline for filing tax returns till January 2021

Syed Umarullah HussainiWeb Editor

07th Dec, 2020. 03:28 pm
Taxes

Pakistan Tax Bar Association (PTBA) on Monday appealed the Chairman of Federal Board of Revenue (FBR) to prolong the deadline for filing tax returns by 60 days.

According to the details, PTBA President Aftab Hussain Nagra in his letter to the FBR chairman, said that the last date should be extended till January 31st 2021, as there are lockdowns in many parts of the country due to the second wave of the novel coronavirus.

PTBA President said that tax filers living in those areas are facing difficulty which is why the deadline should be extended.

Earlier Special Assistant to PM on Revenue Dr. Waqar Masood said that FBR has developed a plan to bring 7.4 million non-filers into the tax net by using the Tax-Ray portal on IRIS. The IRIS is an online portal where Income Tax Return is filed.

Special Assistant to PM on Revenue Dr. Waqar Masood, said that FBR has served tax notice to 70,000 biggest asset holders excluding the salaried persons.

He said that the board identified 250,000 individuals out of one million filers who claimed “absolutely no income” but were found to have paid Rs20 billion in withholding taxes which means their “transactions are worth over Rs200 billion.”

Moreover, he said that the tax authority divided the database of 7.4 million National Tax Number (NTN) holders into four to five classes.

In addition to this, he said that the data showed only 2.7 million filed tax returns while 3.7 million did not file returns for the last five years.



 

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