FBR extends deadline for filing tax returns to August 9

ISLAMABAD (92 News) - Revising upward the deadline, the Federal Board of Revenue (FBR) has extended the date for filing tax returns to August 9.  According to a notification, the date has been extended to facilitate tax filers in submitting their returns. Last fiscal year, as many 1.7 million people submitted their tax returns, but this year the numbers are growing. The prior August 2 deadline was set to expire midnight on Friday.

'FBR's proposed fixed tax scheme a joke'

On the other hand, traders have once again overwhelmingly rejected the proposed fixed tax scheme introduced by the Federal Board of Revenue. Traders' leader Naeem Mir is of the view that the proposed scheme is an awkward joke with the business community. He said the traders included in the scheme would be bound to submit their wealth statement, adding the condition of CNIC had not been excluded despite concerns raised by the traders.