FBR date for tax returns extended

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FBR date for tax returns extended

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FBR Chairman has said date of filing income tax returns has been extended till 20 November.

26 October,2011 08:13 pm

Salman Siddique said the steps has been taken to facilitate Sindh flood affectees and Hajj pilgrims.He was speaking to a taxpayers contact seminar, which was held under auspices of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and FBR.He said that there is not any pressure of international donor organizations including IMF to implement Value Added Tax (VAT). “The proposal was floated by FBR itself.”He said that double taxation system and income tax is being reduced gradually. “Withholding agents do not submit full amount to the national exchequer.”Salman said that under the five points agenda of the Prime Minister, the FBR is acting upon the policy to contact small traders, corporate sector, different Chambers of Commerce and Industry and FPCCI so that their apprehensions might be removed and their proposals be included in the next budget.“New tax reforms are in the final stages as FBR is evolving a new strategy so that the defaulters might be forced to pay their taxes. The donor agencies has said it clearly that they could not give aid to tax muggers, which is the matter of great concern for us”, Chairman FBR added.Salman Siddique said that efforts are being made to prevent the smuggling through Afghan Transit Trade, especially 8 to 10 items are checked carefully. FBR is observing the trade affairs of Pakistan and Afghanistan very keenly.He said that the progress is going on regarding the refund of one percent turn over of the tax and it would produce good results in almost week time. He said that some 2.3 million tax defaulters in the country have not NTNs and they are leading luxurious life. FBR is collecting their record.