KTBA urges SECP to extend date

KARACHI: The Karachi Tax Bar Association (KTBA) has urged the Securities and Exchange Commission of Pakistan (SECP) to extend the last date for mandatory requirement of filing Form-A and Form-29 for companies due to extended holidays during the current week, a statement said on Tuesday.

The tax bar in a letter to the chairman of Securities and Exchange Commission of Pakistan (SECP) said the regulator had introduced new requirements such as filing of resolution along with the forms. The last date of payment to submit the fee of the said forms is falling on Friday, November 10, 2017, which is a declared holiday on account of Chehlum of Hazrat Imam Hussain (AS), it added.

Moreover, the last date to file the forms is November 11, 2017, which is Saturday and most of the corporate sector along with other institutions observes weekly holiday, the tax bar said. Therefore, due to aforesaid reasons, payment of fee and filing of the forms may not be possible by November 11, 2017. The tax bar also apprised the SECP that the consultants of the companies are heavily occupied in filing tax returns of which the last date is November 15, 2017. It requested the regulator to extend the date to file the forms up to December 15, 2017, it added.