Karachi: Mr. Atif Ikram Sheikh, President of the Federation of Pakistan Chambers of Commerce & Industry (FPCCI), has called on the Federal Government and the Federal Board of Revenue (FBR) to extend the income tax return filing deadline by one month, shifting it to October 31, 2026. This plea aims to assist trade, industry, and other tax filers in meeting compliance requirements.
According to Federation of Pakistan Chambers of Commerce and Industry, the proposed extension is necessary to ensure maximum tax compliance and to ease the burden on the business community, small and medium enterprises (SMEs), and individual taxpayers. Mr. Sheikh noted that as the existing September 30 deadline nears, taxpayers are grappling with significant challenges due to the frequent slowdowns, glitches, and downtimes of the FBR's IRIS portal, which hinder timely submissions.
Mr. Sheikh emphasized that the Pakistani business community remains committed to its fiscal responsibilities. However, he argued that penalizing them for systemic inefficiencies and inadequate digital infrastructure would be unjust. The FPCCI has pointed to the instability of the FBR's digital systems as a critical reason for the requested extension, citing the difficulties faced by tax professionals and business owners in processing filings efficiently.
The FPCCI leader also highlighted recent complex amendments in tax laws and reporting requirements as a source of confusion, warranting additional time for taxpayers to understand these changes and avoid errors. Furthermore, ongoing macroeconomic challenges, such as high inflation and rising operational costs, have strained the administrative capabilities of SMEs, complicating their ability to meet the current deadline.
The FPCCI contends that extending the deadline aligns with the government's goal of increasing active filers. A rushed process, they argue, could reduce submission volumes, whereas an extended period could lead to higher revenue collection and more accurate compliance.
Mr. Sheikh has directly appealed to Pakistan's Prime Minister, the Minister for Finance and Revenue, and the FBR Chairman to acknowledge these challenges. The Federation warned that failure to extend the filing deadline might push legitimate businesses into the non-filer category, resulting in penalties and disruptions that the current economic climate cannot bear.
The FPCCI remains committed to collaborating with the FBR to address systemic issues and streamline the taxation process for the benefit of both the state and the business sector.