Karachi Tax Bar Association (KTBA) has requested the Federal Board of Revenue (FBR) to extend the date of filing of returns till February 29, 2016. In a letter sent to Chairman FBR, the KTBA stated that the Voluntary Tax Compliance Scheme (VTCS) was passed by the National Assembly and the assent of the President of Pakistan was awaited. It expressed hope that it would become a part of the statute accordingly.
Considering this aspect of the matter, the taxpayers are reluctant to file their returns /statements and eagerly waiting to avail the benefits attached with the said scheme. The KTBA further said that the taxpayers were facing problems while filing the returns/statements on IRIS as the technical problems and frequent stoppage of the said system had not been resolved fully till now. Keeping all this in view, the KTBA has requested for further extending of the date for filing the returns / statements till February 29, 2016 so that all the taxpayers and tax practitioners should be able to file all the returns / statements in the extended time and could avail the benefits attached with VTCS.
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