Karachi: The President of the Karachi Chamber of Commerce and Industry (KCCI), Iftikhar Ahmed Sheikh, has formally requested that the Federal Board of Revenue (FBR) extend the deadline for filing income tax returns by an additional month. This extension is aimed at providing businesses disrupted by election activities sufficient time to fulfill their tax obligations.

According to Zameen.Com, Sheikh made this appeal in light of difficulties faced by the business community during the election period, which coincided with the crucial weeks leading up to the original tax filing deadline of September 30, 2024. Sheikh noted that many KCCI members were unable to complete the necessary documentation because of their involvement in these activities.

Sheikh has proposed that the new deadline be set to October 31, 2024, to allow for the proper preparation and submission of tax returns. He emphasized the challenges encountered by members using the IRIS portal, a system intended for tax filing and data updating. Technical issues with the portal have reportedly made it difficult for taxpayers to navigate and complete their submissions on time.

Furthermore, Sheikh highlighted the need for improvements to the IRIS system to make it more user-friendly and efficient. He suggested that simplifying the system would help taxpayers file their returns without relying on external tax consultants, ultimately reducing costs for businesses.

The KCCI president called for immediate actions from the FBR to address these issues, underscoring the importance of ensuring that all businesses can meet their tax obligations without facing undue complications.