Date for filing of tax returns extended till August 9

[ahlam1399]

ISLAMABAD: After receiving 2.310 million income tax returns till Friday evening, the Federal Board of Revenue (FBR) has again granted one week extension for filing of tax returns up to August 9, 2019.However, there was resistance within the FBR for not granting any further extension but finally the Chairman FBR Shabbar Zaidi took decision to grant further one week extension after getting approval from PTI led government keeping in view collapse of IT system on the last date of filing of income tax returns.“The FBR has so far received total 2.310 million income tax returns. Over 70,000 draft returns were under the process so there are expectations that the total number might cross 2.4 million. In order to facilitate general public the FBR decided to grant further extension”, top FBR official confirmed to The News here on Friday.According to FBR’s announcement, in continuation of circular number 07/2019 dated 02-07-2019 and in exercise of power conferred under section 214A of the Income Tax Ordinance 2001, the FBR is pleased to further extend the deadline of filing of income tax returns/statements for the tax year 2018 for individuals/AOPs and companies up to August 9, 2019.The IT system deployed at FBR’s PRAL is obsolete and required up-gradation as early as possible. The government has already approved to buy more latest and sophisticated software to cater requirements of more customers of the FBR but it is not yet decided whether the IT wing of FBR or PRAL would be assigned to purchase IT related equipment and software.The World Bank (WB) funded $400 million loan as well as government’s normal development projects could finance FBR’s for procuring latest technology as it is the only way forward to expand narrowed tax base.The procurement of technology is time consuming issue in public sector despite having public procurement regulatory authority (PPRA) framework. The latest fiasco was on account of track and trace system which was re-advertised and now it was learnt that it was advance stage to make it operational for few selected sectors starting its implementation from cigarettes manufacturers in formal sector.http://feeds.feedburner.com/~r/com/cwEr/~4/h-3L0Hq-9SM

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