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MTBA demands FBR to extend date for filing of Assets Declaration Scheme until July 31

MTBA demands FBR to extend date for filing of Assets Declaration Scheme until July 31

MULTAN: Multan Tax Bar Association (MTBA) demanded Federal Board of Revenue (FBR) to extend Assets Declaration Scheme deadline until 31st July.

Tax practitioners including members of the Multan Tax Bar Association passed a unanimous resolution about the extension of time for filing of Assets. Multan Tax Bar Association has requested Chairman Federal Board of Revenue Syed Mohammad Shabbar Zaidi that after the launching of asset declaration scheme, Eid-ul-Fitr holidays were announced and several working days were not utilized due to Eid holidays.

General Secretary Multan Tax Bar Association Riaz Ahmad Raja said that last date for filing of sales tax and Federal Excise Duty deadline is also 30th June 2019. Tax Practitioners are busy in filing Sales tax and Federal Excise Duty returns. Filing of monthly withholding statement in the month of June 2019 is also 30th June and tax consultants are busy in their routine filing.

People are still unaware about asset declaration scheme 2019 due to lack of awareness to taxpayers campaign and public seminars from Federal Board of Revenue. Multan Tax Bar Association informed Chairman Federal Board of Revenue that many questions and answers of Asset Declaration scheme are still pending.

Vice President Multan Tax Bar Association Muhammad Imran Ghazi informed Customs today that asset declaration required to be filed along with revised wealth statement and wealth reconciliation statement which needs time for compliance and it is too difficult to declare assets within due date. He added that maintenance of condition for cash into bank accounts is also causing financial hardship for the taxpayers.

MTBA has demanded from Federal Board of Revenue to extend the date for filing of returns under Assets Declaration Scheme 2019 as huge number of people wanted to declare their assets through this scheme.