KTBA seeks extension in filing deadline

KARACHI: Tax practitioners have urged the Federal Board of Revenue (FBR) to extend the deadline for 15 days to submit annual statement by employers.

In a letter sent to Member Inland Revenue (Operations) on Tuesday, the Karachi Tax Bar Association (KTBA) said many of the members were unable to file the annual statement by the due date of July 31, 2018 as most of them have remained occupied in filing amnesty declarations (local and foreign), last date for which also falls on the same day.

As such, many members approached the bar to seek extension from the FBR in the filing date of the annual statement under section 149 of the Income Tax Ordinance, 2001.

Under this section, every employer paying salary is required to submit annual statement as evidence of payment to the FBR.

The KTBA requested the FBR to extend the date of filing of the annual statement up to August 15, 2018, exclusively for the facilitation of the taxpayers.