CAP seeks more time to file returns

LAHORE: The Chainstore Association of Pakistan (CAP) has urged Federal Finance Minister Shaukat Tarin and Federal Board of Revenue (FBR) chairman to extend the date for the filing of income tax returns till December 31, 2021. In a statement issued on Thursday, CAP Chairman Tariq Mehboob said it was impossible for the business community to file income tax returns by the end of this month because of Covid-19, cumbersome FBR online system and trade bodies’ elections in September. He said that extension in the date for the filing of income tax return would not only be a great favour to the business community, but would also be in the interest of the government.

Elaborating the point, Tariq said that extension in the date for the filing of income tax returns would help government achieve its revenue target, besides trust building of the private sector.

An extension in the date of filing of income tax returns would not only facilitate the business community, but would also send a positive signal about private-public sector liaison.