Deadline for filing tax returns extended till Oct 31

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ISLAMABAD – The federal government on Friday prolonged the deadline of submitting earnings returns for an additional one month because of the poor response from the folks to file their returns.

“Federal Finance Minister Ishaq Dar on Friday accepted extension within the due date for submitting of earnings tax returns/statements by corporations, salaried people, different people and AOPs, until October 31, 2017,” stated an official handout launched by the Ministry of Finance. The minister accepted extension within the date in view of the requests made by the tax bars and numerous commerce and different associations on account of Eidul Azha and Muharram holidays, each falling in September 2017. It was felt that the taxpayers couldn’t discover ample time for submitting of their tax returns. The due date for submitting of returns has due to this fact been prolonged.

Sources in Federal Board of Income (FBR) have knowledgeable Zari Information that the federal government has prolonged the deadline of submitting earnings reruns after getting poor response. Round 1,92,000 folks have filed their returns by the night of September 29. Nevertheless, the returns are larger as towards the identical month of the final 12 months when lower than 60,000 folks had filed their earnings returns.

The variety of earnings tax filers would enhance, as FBR engages chambers, business captains in drive for submitting of IT returns,” stated an official of the FBR. He additional stated that the FBR has already stepped up its taxpayers outreach marketing campaign by partaking chambers, banks, energy distribution corporations and enterprise organisations in numerous cities in a bid to additional increase the submitting of Revenue Tax returns.

It’s price mentioning right here that whole variety of taxpayers who’ve filed their returns has elevated to 1,216,614 in 2016 in contrast with 1,074,418 taxpayers within the listing for the Tax 12 months 2015.

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