APTMA urges FBR for relief

ISLAMABAD: Leading businesses, including textile industrial units, have asked the FBR to allow them to file sales tax returns even if their power distribution companies (DISCOs) have not submitted their returns on time.

In a letter sent to Chairperson of the FBR Malik Amjed Zubair Tiwana, the All Pakistan Textile Mills Association (APTMA) highlighted that the delay in Discos’ tax filings is creating significant obstacles for businesses, including APTMA members, to meet their tax obligations by the July 31 deadline. This, in turn, is leading to financial penalties and operational disruptions.

The APTMA requests the FBR to allow firms to file their sales tax returns even if the respective DISCO has not filed its return. It says that this exemption is similar to the one recently granted to gas utilities, SSGC and SNGPL. The trade body argues that such a measure is essential to prevent businesses from being penalized for circumstances beyond their control.

It is worth noting that businesses failing to file their returns on time become classified as ‘non-filers’, leading to further operational disruptions and financial penalties.The gridlock resulting from SRO350 is halting all industrial business activities across the country. This regulation needs to be revisited and resolved to create a more conducive environment for economic recovery and growth. “However, until a consensus is reached, it is imperative that immediate relief measures, such as the requested exemption, be granted to alleviate the pressing concerns of businesses and prevent further economic strain,” says the APTMA letter.