LCCI advised to file tax returns

LAHORE: The Federal Board of Revenue (FBR) has urged the Lahore Chamber of Commerce and Industry (LCCI) to ask its members to submit their tax returns on time, a statement said on Friday.

Filing of tax returns was lower than the previous year, Member Public Relations, FBR, Sardar Ali Khawaja said while speaking at the LCCI.

“This year, we want more tax returns than last year to reach our revenue projections, and our mission is interaction, facilitation, education, and settlement of business community issues,” Khawaja stated.

FBR member termed a low tax basic basic problem of the country, which requires collaboration of the business community, he added.

He advised LCCI members to submit their tax returns on time, as the chamber had requested an extension of the deadline of filing of income tax returns. He apprised the participants that the FBR desired frequent communication with the business community.

LCCI president Kashif Anwar called for a simplified tax return form for merchants and shopkeepers with annual sales of more than Rs100 million. He stated that some businesses had received refunds during last two years, but many cases were still pending. Anwar asked the FBR to clear the refunds cases at the earliest.