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Filing of less number of tax returns worries FBR

Filing of less number of tax returns worries FBR

ISLAMABAD: Despite repeated extension in deadline for filing of tax returns, the FBR collected only 500,000 returns until December 3, 2014 against 850,000 in 2013.

The filing of less number of returns has perturbed the FBR and Chairman Tariq Bajwa has written letters to parliament, government departments and ministries and asked all cadre employees and parliamentarians to submit their returns. Bajwa has become active to resolve the issue of SRO-608 since many small and big traders and businessmen have refused to submit returns under SRO-608.

The filing of less number of returns has worried the government since it was expecting high ratio of filing of returns. Talking to Customs Today, PML-N MNA Mian Abdul Manan said that issue of SRO-608 would be resolved soon and FBR and traders have constituted committees in this regard. He said FBR may extend date of filing returns on December 5 to overcome filing of tax returns. He said the IMF could point fingers over filing of less number of tax returns. He said December 17 meeting will discuss such issues to fulfill IMF terms regarding increasing tax net and tax base.